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Author Topic: EC will regulate cryptocurrencies like Libra  (Read 154 times)

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EC will regulate cryptocurrencies like Libra
« on: October 24, 2019, 03:51:11 PM »
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.


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