The European Union's finance commissioner pledged on Tuesday to propose new...
BRUSSELS - The European Union’s finance commissioner pledged on Tuesday to propose new rules to regulate virtual currencies, in a reaction to Facebook’s plans to introduce Libra, which the EU considers a risk to financial stability.
“Europe needs a common approach on crypto-assets such as Libra,” Valdis Dombrovskis told EU lawmakers in a confirmation hearing. “I intend to propose new legislation on this.” The EU is now also pushing the G20 for global action on “stablecoins,” an EU document circulated last week said.
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