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Sitharaman noted that representatives of other nations has argued against the use of the term "stable currency" or "stablecoin" but instead emphasize the token's links to cryptocurrency.
     As reported, Libra has been designated a stablecoin by Facebook- a type of digital asset designed to mitigate price volatility- and was initially proposed to be backed by a basket of national fiat currencies including the U S dollars, Euro, Japanese yen, British pound and Singapore dollar.
          Sitharaman said that while presentation at the annual meeting had conceded the prospective strength of such virtual currencies,"everyone without fails spoke about the challenges together with talking about it as a necessary step forward. So everyone was stepping cautiously on it.
         Circumspection in regard to Libra has indeed been reverberating among citizens, crypto industry figures government, regulators and central bankers worldwide.
Good job