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EU Finance Ministers Agree To Take Tough Stance On Facebook's Libra

Roland James

Summary: EU finance ministers agreed on Thursday that the risks of private digital currencies like Facebook’s Libra should be addressed before they’re allowed in the European Union. The ministers in a joint statement said, “No global stablecoin arrangement should begin operation in the European Union until the legal, regulatory and oversight challenges and risks have been ...

EU finance ministers agreed on Thursday that the risks of private digital currencies like Facebook’s Libra should be addressed before they’re allowed in the European Union.

The ministers in a joint statement said, “No global stablecoin arrangement should begin operation in the European Union until the legal, regulatory and oversight challenges and risks have been adequately identified and addressed.”

The statement just serves to further reinforce the bloc’s tough stance on Libra.

By Roland James

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