J. Dax Hansen was quoted in the Payment Eye article, "Calibra Welcomes G7 Attention," regarding a G7 working group report for the Libra Association.

“The way I interpreted the G7 report was ‘wait, private sector, you’re way ahead of us’ said Dax. “Don’t launch a stable coin until we have regulatory certainty. But of course we’ve been waiting for decades for regulatory certainty, and we don’t have it, right?”

Dax referred to a regulatory “face-off,” in which innovation continues to outpace rule-makers. In recent months a number of organisations who signed up to the Libra project have exited.

“We had some members of the central banking community send letters to some players in the payments space reminding them that there would be additional regulatory scrutiny on non-Libra businesses if they were to continue [with Libra],” said Dax. “There’s really interesting dynamics happening where regulators don’t want bad things to happen on their watch…but progress is happening.”