This current trend of of "disrupting" the market by flouting or circumventing regulations may have worked for Uber, AirBnB and so on, but Libra might just be a step too bold.

Unless Libra aims to uphold the same regulations that banks must, then at some point, I predict that there is a huge amount of trouble coming for them. Financial services can be both used and abused, and regulators have forced banks to address the abuse (eg: AML/KYC practices) to protect participants. Circumventing these regulations is equivalent to rolling back these protections.

The same could be said about any other industry that might profit from using Libra, be it investment advisors to casinos to who knows what else.