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EC will regulate crypto currencies like Libra

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  • EC will regulate crypto currencies like Libra

    As crypto assets like Facebook's Libra may threaten the financial stability, they should be regulated in the European Union, Valdis Dombrovskis, the incoming European Commission Executive Vice-President responsible for the finance affairs of the Block, told lawmakers in the European Parliament.

    Dombrovskis pointed out that the EU is currently working on a regulatory framework forcrypto assets, adding that the impact of these virtual coins should be examined on a series of areas including financial stability, monetary stability, data protection and anti-money laundering.

    "We will need to regulate Libra to supervise it on EU level both from the point of financial stability and protection of investors as well," Dombrovskis said.

  • #2
    I highly doubt they even allow it to be appear at least in the EU territory for example. It's way too much for everything like that. They do not suppport it, Visa and Mastercard do not support it, Paypal do not support it for whatever reason anyway. I hope it will be there.


    • #3
      Time will tell, I guess.