Facebook’s cryptocurrency Libra is to exclude Chinese yuan in its currency basket.
In a letter to Senator Mark Warren, Democrat, Facebook said it would include the U.S. dollar, euro, Japanese yen, British Pound, Singapore Dollar in its currency baskets.
It indicated that it would not initially include the Chinese currency in its basket. This exclusion appears to be in line with the Trump Administration’s sentiment to rein in China, which it sees a growing threat to the U.S. global hegemony.
