Home / Crypto News / European Central Bank checks ban on Facebook Libra and other high-risk crypto-currencies

European Central Bank checks ban on Facebook Libra and other high-risk crypto-currencies

Europäische Zentralbank prüft Verbot von Facebook Libra und anderen Kryptowährungen mit hohem Risiko

The fronts against Facebook's Libra harden in the EU

Facebook's plans to build its cryptocurrency Libra have no shortage of critics. Libra is a crypto asset supported by a basket of Fiat currencies.

In the months following its announcement, Libra has led to controversy and outrage among regulators worldwide. These warn against the fact that one can entrust Facebook and its CEO Mark Zuckerberg no confidential financial data. And then there is the problem of billions of Facebook users. A cryptocurrency in the hands of a social media giants could, in their opinion, shatter the global financial system to the core.

Following a report published by Reuters, the European Union will examine a possible ban on cryptocurrency high-risk projects and try to block the launch of Libra.

EU financial supervisors demand that “all options are on the table”. This also includes preventing the ongoing development of the cryptocurrency, as this is associated with excessive risks.


Daniel Daianu, President of the Romanian Fiscal Council, says Libra is “very dangerous”. He also points out that such assets “are part of the logic of those who believe that parallel markets are needed and look forward to the disappearance of central banks.”

The latest proposal is expected to be discussed at an upcoming meeting with EU finance ministers on Friday. In it, the European regulators claim that Libra and other similar initiatives “should not start up in the EU”

Concerns over technology giants like Facebook are prompting the EU to think about introducing its own public digital currency.

– Display –

The document states:

to consider concrete steps in this direction. ”

The crypto community is still divided over the Libra. This ranges from the analysis Libras meaning for Bitcoin in general to decentralized systems and the ability of Facebook to make sense of it. Ethereum co-creator Joseph Lubin says he is a big fan of projects like Libra. But he adds that Libra has the wrong captain at the helm.

“I do not think Facebook … with the concerns we have regarding trust and personal identity in Facebook should drive this project forward. “

As for truly decentralized cryptocurrencies, the creator of Cardano and co-creator of Ethereum, Charles Hoskinson, explains why Libra is another beast.

decentralization. Instead, they pull a certain member of the industry like Mark Zuckerberg in front of them and attack it. “

Text proof: Dailyhodl, Image: Pixabay

Author: Peter Joost – Source Post: http://gestyy.com/w5FnBm

Disclaimer: .com is a crypto news portal, financial discussion forum, and content curator / aggregator. Articles on Coin News Desk are provided for entertainment and information purposes only. We are not an investment advisor and do not provide financial advice.

We can not review all articles posted on CoinNewsDesk.com. Please independently research and verify any information here before relying on it as fact. It is also important to do proper due diligence and analysis, including consulting a professional financial advisor. No content on Coin News Desk makes any recommendation to enter into any type of investment or engage in any investment strategy on this website.

About Coin News Desk Team

Leave a Reply

Your email address will not be published. Required fields are marked *