Facebook Libra more in the criticism – now comes the Eurocoin?
The of Facebook, announced the digital currency Libra launches within Europe, particularly in Germany and France, both in politics and in the population at strong resistance. Libra has a problem of Trust, since it is directly related to the data octopus Facebook in connection. The European Union is considering to bring the Eurocoin on the way.
The European Central Bank (ECB) could give out a public digital currency, reported Reuters on Tuesday, citing a draft Document. This step is intended to counteract the influence of Libra, the next stable coin of Facebook,. According to a Finnish EU-presidency, elaborated the draft text, the European Union could create a common legal framework for crypto-currencies, and even projects prohibit, which are considered to be ‘at risk’. The first candidate in this category of dangerous crypto-projects is Libra. Facebook introduced in June for the first time, his PLan for the output of the digital currency Libra. However, the Social Media giant pushes in many countries, resistance. France and Germany spoke out immediately against such a digital currency that could be the influence of the ECB undermined.
In addition to the common crypto regulation, the draft text suggests the creation of a digital currency, which would be in contrast to Bitcoin, and Libra is a legal basis. The document continues:
The ECB and other EU Central banks could explore the possibilities and challenges the issue of digital currencies, the Central banks in a sensible way, by dragging the concrete steps in this direction in consideration.
The EU Finance Ministers will come up on Friday and the draft is expected to discuss. Finally, you can use it on your next session at the 5. December assume, if there are no discrepancies. According to the Reuters published a draft statement, to think the EU is only about this step, but the chances are good that the design will be implemented in applicable law. It seems that the ECB has an influence on their own digital currency, as it seeks more control over the flow of money. An ECB official said that the project could allow consumers to use electronic money, which is paid directly from the Central Bank. This would eliminate the need for Bank intermediaries, reduce, or even completely.
Without Bank accounts and Bank intermediaries, the ECB may take over the functions of the banks, by managing digital payments at a low cost. Obviously will put the banks in such a scenario, so that the “digital Euro” will probably look different than this ambitious Version. If the EU actually bring their own digital coin to the market, this will mean a reversal of the attitude of the ECB in the year 2018. In the past year, the former ECB President, Mario Draghi, said that there is no need for digital Währungn. It is doubtful at this point, still, what crypto-currencies as a dangerous and risk-rich could be classified.
Members of the Bitcoin Communty were concerned, think, however, is not banned the Bitcoin in Europe in the near future. However, it remains to be seen what further steps the ECB to Facebook Libra in the fight against.
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