The finance ministers of France, Germany, Italy, the Netherlands and Spain called on the European Commission to include “strong rules” in its upcoming cryptocurrency proposal, in particular for global digital tokens like Facebook’s Libra.
The EU will set up a new college of supervisors, including national and European authorities, to oversee “significant” digital currencies including Facebook’s Libra, according to the European Commission’s cryptocurrency draft proposal seen by EURACTIV.
The European Commission will present later this year new rules to develop a “sound” crypto-asset market in the EU, including for stablecoins such as Facebook’s digital currency Libra, financial services commissioner Valdis Dombrovskis, said on Tuesday.
The European Commission will present this autumn a strategy on an integrated EU payments market, to facilitate the use of national payment services across Europe and reduce the dependency from international card operators such as Visa or Mastercard.
The European Central Bank will next year review its tools and objectives in order to better fulfil its mandate of price stability, and it also intends to assess the appropriateness of issuing its own digital currency, in the face of growing concerns about Facebook’s Libra.
Facebook-sponsored digital currency Libra is determined to getting the green light by European regulators next year, despite the numerous concerns raised by EU finance ministers, a senior representative of the project told EURACTIV.com.
The European Commission has called for a “proportionate” and differentiated approach to regulating digital currencies including Facebook’s Libra, as the EU needs to preserve is developing Fintech environment.
Europe is ready to “prevent the development” of risky digital currencies including Libra until all concerns have been addressed, according to the latest proposal to be discussed by EU finance ministers and seen by EURACTIV.com.
The European Commission questioned on Wednesday (25 September) some member states’ decision to grant at least 18 months to banks for the full implementation of the European Payments Services Directive 2, which requires stronger authentication procedures for online payments.
Welcome to EURACTIV’s Digital Brief, your weekly update on all things digital in the EU. You can subscribe to the newsletter here. “Google’s decision is not just regrettable. It is disrespectful of the spirit of the European directive and the...
Welcome to EURACTIV’s Digital Brief, your weekly update on all things digital in the EU. You can subscribe to the newsletter here. “The Commission remains committed to the deployment of C-ITS...” EU Source to EURACTIV, Wednesday 18 September. C-ITS....
Christine Lagarde promised on Wednesday (4 September) to respond with “agility” to the looming financial and economic turbulences once she becomes the president of the European Central Bank in November, while confirming that the current loose monetary stance will continue for a “long period of time.”
The Economic and Financial Committee (EFC), which brings together the EU’s member states, has requested an analysis note from the European Commission to further look into the risks posed by Facebook’s controversial digital currency Libra and the ways to regulate it.
EU antitrust regulators want to know whether Facebook’s proposed Libra cryptocurrency and its use of consumer data pose possible anti-competitive constraints, people familiar with the matter said on Wednesday (21 August).