EU still uncomfortable with Libra-like cryptocurrencies

Thursday, 05. December 2019 13:54

The European Union shouldn't allow private digital currencies similar to Facebook's Libra to enter its market as the risks those currencies are coming with haven't been fully affirmed yet, EU finance ministers concluded on Thursday.

However, they supported the European Central Bank’s initiative to create a public digital coin.

Previously, Executive Board member of the European Central Bank (ECB) Benoit Coeure warned that Libra may come with numerous concerns such as money laundering, the financing of terrorism and harming consumer and data protection.

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