<p>Beatrice Weder di Mauro, president of the Centre for Economic Policy Research (CEPR), a European think tank, has said that Facebook-led stablecoin project, Libra, is unlikely to get approved.</p> <p>“What libra has done is … it has shaken up the central banking community,” because a private sector-backed global digital currency has suddenly become a real possibility, Weder di Mauro <a href="https://www.cnbc.com/2019/10/25/something-similar-to-facebooks-libra-could-emerge-expert.html">told</a> CNBC in an interview published Friday.</p> <p>“This is also why it’s probably not going to happen...because the regulators are right now saying we are not going to allow it,” she added.</p> <p>di Mauro, however, believes that a different digital global currency could be created now, either from the private sector or central banks. “Central banks would be able to, if they banded together, issue a global currency themselves.”<br /> <br /> <a href="https://www.theblockcrypto.com/category/facebook">Libra</a> was announced in mid-June and has faced intense scrutiny from global regulators since then. Earlier this week, Facebook CEO Mark Zuckerberg <a href="https://www.theblockcrypto.com/post/44330/zuckerberg-facebook-would-leave-libra-if-us-regulators-dont-approve-the-project">testified</a> before U.S. Congress, but lawmakers remain as concerned about Libra as they were before. </p>