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LIBRA is a cloud-based legal management software that simplifies legal processes with automated case notifications, collaborative workspace, and personalized reporting. It also offers AI-driven legal research, case directory, and mobile app for lawyers and law firms.
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Libra Case Status Search is a tool to track legal cases from various courts and tribunals in India. It offers real-time updates, notifications, and information on case status, court orders, and judgments.
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Libra Law is a leading law firm in the Philippines, founded and managed by Roan I. Libarios, a former National President of the Integrated Bar of the Philippines. It specializes in public-private partnership transactions, complex litigation, and constitutional reform.
- Introduction
- The Libra Association and Consortium
- Libra’s Business Proposition
- Regulatory Concerns
- Cross-Border Supervision
- Conclusion
- Acknowledgement
Libra, the cryptocurrency project for which social media giant Facebook released the initial concept paper on 18 June 2019 (Libra 1.0), has attracted global attention. In less than two weeks, many of the world’s most influential financial regulators, including the Financial Stability Board (FSB),1 US Federal Reserve,2 Bank of England,3 Bundesbank4 ...
A. How Libra Works
Figure 1 depicts how we understand Libra 1.0 based on its initial White Paper released on 18 June 201922 and related disclosures.23We note differences between Libra 1.0 and Libra 2.0 as necessary. Libra holders will be most likely required to have a Libra account, with a Libra custodian and/or authorised exchange. Authorised exchanges are the only institutions able to interact with the Libra Association.24 Once a customer swaps fiat currency into Libra, the exchange will either meet the deman...
B. Consortium and Association
Unlike decentralised cryptocurrencies, in particular Bitcoin, Libra has a consortium underpinning its distribution and ensuring compliance with Libra’s mission as detailed in the White Paper. It will be a permissioned system and hence different from that envisioned by cryptocurrency purists. Libra is not decentralised: at the first meeting of the Libra Association in October 2019, 21 institutions from around the world formed the consortium.27 This was down from the 29 institutions that had si...
C. Governance
The Libra Association serves to distance Facebook from Libra: the final decision-making authority rests with the Association, not Facebook.33 The expressed goal is for there to be up to 100 members of the Libra Association by the time of launch.34 Each will pay at least USD 10 million into Libra’s capital,35 in return for certain decision-making rights indicated in Figure 2.36 Libra’s most striking feature, from a company law point of view, is the strong role of the council of members, partic...
Libra’s mission is outlined in its June 2019 1.0 White Paper:55 Libra, as initially proposed, aimed to enable ‘a simple global currency and financial infrastructure that empowers billions of people’; through a ‘new decentralized blockchain, a low-volatility cryptocurrency, and a smart contract platform that together aim to create a new opportunity ...
A plethora of regulatory concerns accompany the Libra project, and regulators around the world have already made clear they will require high regulatory standards, given Libra’s scale and reach. We expect regulators to act in the three primary regulatory paradigms when regulating Libra. These include consumer protection (also referred to as investo...
Libra is a global project. Given the current state of international financial regulation, the best we could hope for Libra is a group of regulated and capitalised subsidiaries under a main holding entity, with cross-border cooperation and coordination through supervisory colleges of involved supervisors, chaired by the main supervisor of Libra’s ho...
Given Libra’s potential scale once Facebook links its massive client base via Messenger, WhatsApp and Instagram to Libra via Novi, worldwide monetary and financial regulators have no choice but to regulate Libra and are moving to do so on a global basis. This article has outlined a number of regulatory concerns. In fact, even without Libra the cryp...
Our thanks to Winny Bhushan Seelam and Michael Squires for invaluable research assistance and to Corinne Zellweger-Gutknecht, Jon Frost, Klaus Löber, two anonymous peer reviewers and the participants in workshops and conferences at the Bank of International Settlements, Columbia University, the European Securities & Markets Authority, the South Afr...
May 1, 2024 · Founded in 2007, Libra Law is a Swiss law firm specialising in Sports and Business law. Sport. Commercial. Civil liability. Mediation. Arbitrage. Institutional. The firm is driven by the desire to do its utmost to meet its customers’ requirements. This translates into genuine teamwork, enabling us to offer fast, reliable solutions. 20 August 2024.
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Bernard U. Cobarrubias. Head, Corporate, Tax, Construction and Special Projects Alexis F. Medina. Head, Public Private Partnerships
