Private digital currencies like Facebook's Libra should not be allowed in t...
BRUSSELS - Private digital currencies like Facebook’s Libra should not be allowed in the European Union until the risks they could pose are clearly addressed, EU finance ministers agreed on Thursday.
“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 ministers said in a joint statement. EU ministers said they could consider EU rules to regulate crypto-assets and stablecoins as part of a global plan.
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