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"We Can’t Regulate Libra Without More Details"
Summary: Since Facebook's Libra "lacks detail," regarding its payments ecosystem, the European Union is still trying to figure out what to do with it- and have yet to determine what it is, reports CoinDesk. Libra is still a project, but the Commission wants to "act swiftly" to create regulations; reaffirming that the Commision will police the cryptocurrency ...
Since Facebook's Libra "lacks detail," regarding its payments ecosystem, the European Union is still trying to figure out what to do with it- and have yet to determine what it is, reports CoinDesk.
Libra is still a project, but the Commission wants to "act swiftly" to create regulations; reaffirming that the Commision will police the cryptocurrency and assess the risks towards financial stability. Mark Zuckerberg stated that the Libra Association will wait for regulators to become comfortable before launching the token. Zuckerberg also testified before the U.S. congressional committee stating that Facebook will withdraw from the project, if the project is launched before regulatory approval is secured.
By Claudia Rivera
Tags: European Commission,European Union,Libra,Stablecoin
Link: "We Can’t Regulate Libra Without More Details" [Copy]
