EU finance ministers have agreed that private digital currencies like Libra – the crypto coin Facebook plans to launch in 2020, should not be allowed in the European Union until all possible risks are identified and properly addressed.
Since Facebook revealed its Libra project in June, virtually all major financial regulators have expressed concerns about Libra's possible impact on the global financial system. The unease steams from Facebook's huge customer base – currently the social media has more than 2 billion users.
The European Central Bank, as well as Germany and France also criticized the project – a stance, which is now confirmed by the decision of the finance ministers of the Block.
Source
Since Facebook revealed its Libra project in June, virtually all major financial regulators have expressed concerns about Libra's possible impact on the global financial system. The unease steams from Facebook's huge customer base – currently the social media has more than 2 billion users.
The European Central Bank, as well as Germany and France also criticized the project – a stance, which is now confirmed by the decision of the finance ministers of the Block.
Source
