European Union (Euro) have issued a drafts law proposing union to consider issuing their own Cryptocurrency.
As the report from Reuters on 5th Nov , that the draft in question (which is still subject to amendments ) urges member states to develop a common approach to cryptocurrencies, possibly banning high-risk projects.
If the draft in its current form is approved, which could happen as early as next month, it could have far-reaching consequences. More precisely, Reuters suggests that such a law could escalate into an EU regulatory campaign against cryptocurrencies.
European Central Bank to consider Eurocoin
The draft prepared by the Finnish EU presidency also suggests that the European Central Bank should consider issuing its own digital currency:
“The ECB and other EU central banks could usefully explore the opportunities as well as
challenges of issuing central bank digital currencies including by considering concrete steps
to this effect.”
The draft will be discussed this Friday, and perspective on its adoption will be presented on Dec. 5.
As Maishince Media reported on Top of Oct, German Minister want to Introduce Euro Digital Currency This response is believe to be made after Facebook issuing whitepaper of their own private cryptocurrency , Libra. Most of the global regulators are prefering the public digital currency compared to the private cryptocurrency which their opinion is a threat for Euro currency.
Source : Reuters
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