Facebook's recent proposal for a stable global cryptocurrency on social media platform has led many to anticipate its positive impact on the global economic system. However, privacy concerns and Libra's planned decentralised approach have raised apprehensions among the regulators around the world.

The dexterity with which Japan handles this case and the follow-up measures it adopts will strongly influence other countries to either liberalise the use of cryptocurrencies or strictly forbid them in the interest of consumers, law enforcement and national security.