BeQuiet Jubiläum Banner 970x90
Breaking News

Razer unveils the Viper Mini Signature Edition – a magnesium alloy gaming masterpiece CORSAIR Launches New VENGEANCE a8100 and i8100 Gaming PCs and New Component Products for PC Builders Sonos and Amazon to expand access to voice control with Alexa on Sonos devices Samsung announces new S23/Plus/Ultra series and New Galaxy Book3 Ultra PS5 Beta Introduces Discord Voice Chat, VRR support for 1440p, and more

logo

  • Share Us
    • Facebook
    • Twitter
  • Home
  • Home
  • News
  • Reviews
  • Essays
  • Forum
  • Legacy
  • About
    • Submit News

    • Contact Us
    • Privacy

    • Promotion
    • Advertise

    • RSS Feed
    • Site Map

Search form

Europe Won't Accept Private Digital Currencies

Europe Won't Accept Private Digital Currencies

Enterprise & IT Dec 5,2019 0

European Union (EU) finance ministers on Thursday said that private digital currencies such as Facebook’s Libra should not be allowed in the European Union until the risks they could pose are addressed.

“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.

Stablecoins are digital currencies, like Libra, that are usually backed by traditional money and other securities, while crypto coins like bitcoin are not.

Ministers also said they consider EU rules to regulate crypto-assets and digital coins as part of a global plan.

Facebook's Libra has attracted criticism from global regulators over its possible impact on the financial system since it was announced last June. Some of Libra’s original backers including payments giants Mastercard and Visa ditched the project in October. The exodus left Facebook and 20 other members of the Geneva-based Libra Association to forge ahead with the project, due for launch by June next year.

The European Central Bank (ECB) is also working on a public digital currency, which could represent an alternative to private initiatives. The bank said a public digital currency could be necessary if payments within Europe remained too expensive.

Tags: European UnioncryptocurrencyFacebook Libra
Previous Post
Samsung Galaxy S11 to Come With a 108-megapixel Camera
Next Post
Ford to Convert and McDonald’s Coffee Bean Skin into Car Parts

Related Posts

  • The Top 4 Crypto Browser Extensions

  • What Are The Similarities Between The Metaverse And The Matrix?

  • Reddit to Reward Active Users With a Cryptocurrency

  • Facebook Outlines Changes Made to Libra Including Support for Multiple Single-Currency Coins

  • Opera Lets US Users Buy Crypto With Apple Pay or Debit Card

  • Shopify to join Facebook's Libra Currency Group

  • Vodafone Quits Facebook’s Digital Currency Project

  • EU Says it Must Ensure Fair and Safe Use of Artificial Intelligence

BeQuiet Jubiläum Banner 300x600

 

Latest News

Razer unveils the Viper Mini Signature Edition – a magnesium alloy gaming masterpiece
PC components

Razer unveils the Viper Mini Signature Edition – a magnesium alloy gaming masterpiece

CORSAIR Launches New VENGEANCE a8100 and i8100 Gaming PCs and New Component Products for PC Builders
PC components

CORSAIR Launches New VENGEANCE a8100 and i8100 Gaming PCs and New Component Products for PC Builders

Sonos and Amazon to expand access to voice control with Alexa on Sonos devices
Consumer Electronics

Sonos and Amazon to expand access to voice control with Alexa on Sonos devices

Samsung announces new S23/Plus/Ultra series and New Galaxy Book3 Ultra
Smartphones

Samsung announces new S23/Plus/Ultra series and New Galaxy Book3 Ultra

PS5 Beta Introduces Discord Voice Chat, VRR support for 1440p, and more
Gaming

PS5 Beta Introduces Discord Voice Chat, VRR support for 1440p, and more

Popular Reviews

Withings Thermo Wi-Fi-connected temporal thermometer

Withings Thermo Wi-Fi-connected temporal thermometer

EnGenius ECW230 Access Point

EnGenius ECW230 Access Point

Withings Body Plus Scale

Withings Body Plus Scale

Withings Sleep Analyzer

Withings Sleep Analyzer

Noctua NH-D12L CPU Cooler

Noctua NH-D12L CPU Cooler

EnGenius ECW230S AP

EnGenius ECW230S AP

Scythe Fuma 2 CPU Cooler

Scythe Fuma 2 CPU Cooler

be quiet! Pure Rock 2 FX

be quiet! Pure Rock 2 FX

Main menu

  • Home
  • News
  • Reviews
  • Essays
  • Forum
  • Legacy
  • About
    • Submit News

    • Contact Us
    • Privacy

    • Promotion
    • Advertise

    • RSS Feed
    • Site Map
  • About
  • Privacy
  • Contact Us
  • Promotional Opportunities @ CdrInfo.com
  • Advertise on out site
  • Submit your News to our site
  • RSS Feed