Launching a Global Currency Is a Bold, Bad Move for Facebook; By Matt Stoller,fellow at the Open Markets Institute.

"The way we structure money and payments is a question for democratic institutions. Any company big enough to start its own currency is just too big.  Facebook’s goal of continuing to connect the world no matter the consequences, by creating a medium of exchange that can potentially bypass central banks, bank regulators and existing currency systems,  is a bold move  given that this announcement is happening as Facebook is being criticized or investigated for massive privacy violations, anti-competitive practices in the advertising market, eroding the free press and fomenting ethnic cleansing." There are four core problems with Facebook’s new currency...."