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Five European States Call For "Very Clear Rules" of Cryptocurrency, Especially Stablecoins
Summary: According to Reuters, five European Union member states: Germany, France, Italy, Spain, and the Netherlands, call for "Very Clear Rules" of Cryptocurrency to protect customer and monetary sovereignty. The finance ministers of these states special emphasized on stablecoins in a joint statement on Friday. They said until legal, regulatory, and oversight challenges had been addressed, stablecoins should not be ...
According to Reuters, five European Union member states: Germany, France, Italy, Spain, and the Netherlands, call for "Very Clear Rules" of Cryptocurrency to protect customer and monetary sovereignty.
The finance ministers of these states special emphasized on stablecoins in a joint statement on Friday. They said until legal, regulatory, and oversight challenges had been addressed, stablecoins should not be allowed to operate in the 27-member bloc. they are waiting for the Commission to issue very strong and very clear rules to avoid the misuse of cryptocurrencies for terrorist activities or for money laundering.
French Finance Minister Bruno Le Maire states, “The central bank, I mean the ECB, is the only one to be allowed to issue a currency. And this point, it’s something that cannot be jeopardized or weakened by any kind of project including the so-called Libra project.”
By Mary Liu
Tags: European Union,Regulation,Stablecoin
Link: Five European States Call For "Very Clear Rules" of Cryptocurrency, Especially Stablecoins [Copy]
