Daily Management Review

EU opposes Facebook's Libra


12/06/2019


EU authorities have opposed use of the Facebook cryptocurrency.



Marco Verch via flickr
Marco Verch via flickr
EU finance ministers did not support use of stable-rate cryptocurrencies, the so-called stablecoins, in their countries. The reason was the lack of legislation and difficulties with regulation. According to Reuters, the first thing they are talking about is the Libra project from Facebook.

"It is impossible to launch any agreement on the use of stablecoin in the EU until legal, regulatory and supervisory problems are identified and resolved," the EU ministers noted.

Launch of the digital asset was planned for next year, but due to fierce resistance in almost all political and economic circles, it will have to be postponed or completely curtailed, experts say.

At the same time, Libra is rapidly losing supporters. Of the 28 companies that initially joined the project, seven have already left it, including mastodons such as MasterCard and Visa. 

source: reuters.com






Science & Technology

Live Facial Recognition Cameras Will Be Used By London Police

Driverless Vehicle For Its Ride-Sharing Service Unveiled By GM’s Cruise

Amazon will allow customers to pay with palms instead of cards

Complete Computer System For Self Driving Cars Launched By Qualcomm

In A Lifetime We Could Accumulate 20Kg Micro-Plastic In Our Body

Creator Of The First 'Gene-Edited' Babies Of The World Gets 3 Year Jail Term In China

China to deploy giant Beidou global navigation system in 2020

VW Zwickau factory is getting ready for electric cars production

Airbus: Passenger hybrid aircraft to take off before 2035

Ocado To Introduce ‘Mini Robotic Warehouse’ With Standard Productivity

World Politics

World & Politics

French tour operators will stop sending tourists to China until February 21

US Will Not Give Visas To Pregnant Women To Prevent Organized 'Birth Tourism'

Heads of the European Council and European Commission sign Brexit agreement

UK adds Greenpeace, PETA to extremist organizations list

Indonesia, UAE sign nearly $23B deal

US to respond to Iran’s attacks on US bases in Iraq

Irish Passport issues hit record in anticipation of Brexit

Reporters Without Borders calls to release Julian Assange