I quickly read the Libra White Paper
It is here if you are interested
https://libra.org/en-US/white-paper/
I'd say a decent amount of provisions have been made, like the establishment of an independent subsidiary Calibra.
KYC of all users is required, so I'd say the national security risk excuse is bunk. Could it destabilise established currencies in the future? Possibly, but it is supposed to be a stable coin.
The backing of the currency with assets is something that should help with the coin confidence. https://libra.org/en-US/about-currency-reserve/#the_reserve
To be honest, I understand the concern about anything associated with Facebook being bad news, but if you think about why they would want this to exist, it's just a really great way of removing the barrier to entry for so many commercial platforms. They could effectively wipe away any currency conversion costs that currently cost them money and hassle. No doubt that they could probably drive analytics on your purchase patterns etc. which will be another revenue stream, but the fact that Visa and Mastercard are already on the Libra consortium suggests this isn't going to be something new to them.
Biting the hand that feeds IT
