Despite enormous power, the crypto project has not been given the go-ahead by the regulators in Washington. However, the changes made so far since the original draft in 2019 are welcomed. Originally called Libra, the project was designed as a global blockchain payment system centred on the cryptocurrency of the well-known social media giant.

With the change of name to Diem, several Stablecoins are planned, which are linked to the respective national currency of each country. The Stablecoin, which is tied to the US dollar, breaks the first ground. However, senior politicians such as Finance Minister Janet Yellen continue to reject private sector stablecoins. Now the banking system is trying to provide an answer to the crypto projects of the economy with its own central bank digital currencies (CBDC).