Triggered by Facebook’s cryptocurrency Libra, the EU will also issue a public digital currency

A draft EU document said the European Central Bank (ECB) should consider issuing a public digital currency, Reuters reported. The move was largely inspired by Facebook’s digital cryptocurrency “Libra” project, the report said.

The draft document also urges the EU to develop new rules for digital crypto assets and stablecoins, including a ban on high-risk projects. In its current form, the draft will escalate EU regulatory action against cryptocurrencies. So far, cryptocurrencies have only been partially regulated in some EU countries.

“The European Central Bank and other EU central banks can explore the opportunities and challenges of issuing central bank digital currencies, including considering specific measures to do so,” said the draft, which is likely to be adopted at a meeting of EU finance ministers next month.

It is reported that as early as June this year, Facebook released the digital currency Libra, which was planned to be officially launched next year, but was then questioned by global regulators.

Since ancient times, the right to issue currency has been held by sovereign countries. Today, the emergence of digital virtual currency allows enterprises and private individuals to also get involved in currency issuance, which will definitely affect the currency sovereignty of various countries. It is believed that every country or organization in the world will Will not sit idly by. However, due to its particularity, digital currency has not yet issued mature regulatory norms in various countries. The issuance of digital currency by the European Union’s central bank is also a good way to test the waters of digital currency.

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