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alternative tool for fundraising. Apart from the above-mentioned benefits,

digital assets also have the potential to promote financial inclusion, as well
as to be used as a means of payment of which transaction fees will likely

be lower than those currently charged by banks or traditional financial
(9)
institutions, as well as providing faster, cheaper and safer transactions.

For example, as specified in the white paper that was issued by the
Libra Association, the so-called çLibra coiné is also expected to be utilized in

(10)
promoting financial inclusion, thus reducing transaction fees. In particular,
the main benefit of the Libra coin may not be the provision of alternative

fundraising tools, as the coin was proposed as a payment token.

2. Problematic Issues

As per the aforementioned statement, there are a number of potential

use cases of digital assets; however, to date, there have been several

problematic legal issues potentially arising from their utilization. These include
the lack of clarity of the relevant regulatory frameworks, the lack of

coordinated activity between regulators, information asymmetries, as well as

problematic issues pertaining to the unclear legal rights and obligations of
token issuers and token holders. As a result, the advantages of digital assets

are potentially undermined unless regulators put in place a proper regulatory

framework.

(9)
Alicia Adamczyk, çWhat Consumers need to know about Libra, Facebookûs new cryptocurrency,é
<https://www.cnbc.com/2019/06/18/what-is-libra-facebooks-new-cryptocurrency.html> accessed
1 December 2019.
(10)
An Introduction to Libra: White Paper, Libra Association, <https://libra.org/en-US/wp-content/
uploads/sites/23/2019/06/LibraWhitePaper_en_US.pdf> accessed 1 December, 2019. p. 12.

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