February 4, 2023

EU bans the use of stablecoins

Cryptocurrencies like Facebook's Libra will be legalized only if all are identified and eliminated. associated risks, said in the Council of the EU.

The European Union did not allow the use of itsstablecoins such as Libra. The Council of the EU explained that the legalization of the circulation of such cryptocurrencies is possible only after the identification and elimination of all legal and supervisory risks, reports TASS.

“No world stable cryptocurrenciesshould be legally used in the EU until all the legal, regulatory and supervisory risks and challenges associated with them are assessed, identified and eliminated, ”the EU Council said in a statement.

November 26, Vice President of the European Commission ValdisDombrovskis presented EU plans to launch a unified digital system by the end of 2021. Dombrovskis noted that this initiative will help to overcome the dependence of Europe on external payment services such as Visa, MasterCard, Amazon, Apple and PayPal.