Good Stablecoin Rules in the EU Pave the Way for CBDCs and a Digital Euro

[Jentot]

Good Stablecoin Rules in the EU Pave the Way for CBDCs and a Digital Euro

In the EU, getting laws right on Libra could be the best way to speed up a digital euro from the European Central Bank.

While Facebook’s Libra project might have shaken the United States government the most, the aftershocks were felt all over the world. The European Union was no exception: The publication of the first Libra white paper in 2019 led to the acknowledgment that the EU was not prepared for what appeared to be the first global stablecoin that would have a direct effect on the European financial market, retail payments and its overall economy.

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[kent47400]

A stable coin definitely has its own rules and the European Union has different rules.
So in this case, it is true that stable coins must be paid close attention to in Europe. Europe has a lot of news about cryptocurrency and it is certain that Europe also does not want to open up space for something fluctuating.

[Fenix]

The European Union reacted immediately and very negatively to the possible emergence of the Libra stablecoin, which was then expected to be backed by the euro as well.
The finance ministers of the European Union countries have made a general decision to prevent the circulation of Libra in the European Union if it is released.
Now they are thinking about creating general rules for the circulation of stablecoins, especially private and various kinds of commercial stablecoins. In any case, such rules are needed and this is quite logical.

[jonathancool220]

Rules are rules and there are definitely violators who will break them for the stbail coin rule in the EU.
But for matters of regulation in this European country it is very reliable and it has been tested for all circles in various businesses.
Moreover, the rules for stable coins, which are based on starch cryptocurrency, will feel very strict and must be implemented.

[Astra]

Libra was never released and little by little people began to forget about it.  At the same time, the countries of the European Union are forced to take measures to generally regulate the circulation of stablecoins, which over time are becoming more and more.  They are also gradually beginning to understand the need to issue their own digitized euro.  I think that after the emergence of the Chinese digital yuan and especially the positive economic effect from its circulation, the process of issuing the digital currency of the central banks of states will significantly accelerate.

[vaysar]

We have all forgotten about Libra, but in vain, in January Facebook will present us with a stablecoin pegged only to the US dollar, and not to 6 as previously planned, the release of other cryptocurrencies is possible in the future.

[IyemRoker]

, and not to 6 as previously planned,

What do these 6 mean, bro?
Can you give a more detailed explanation for number 6?
I am interested in the word because the 1: 1 USD is the equivalent of the original Fiat.
But for 6, I am not clear or don't understand and I beg you to immediately provide this explanation.

[aiviaa485]

Something in this world must have rules in order to run smoothly and well.
Stable coins must also have rules in order to run smoothly and well in the future.

In European countries, the rules are always strict, especially for cryptocurrencies that change from time to time, including stable coins.

[WilliamDab]

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[tervel]

While stablecoins already play a big role in crypto trading, one area to watch in 2021 is whether usage of stablecoins picks up when it comes to cross-border commercial transactions. Data suggests usage of stablecoins is already increasing it will be interesting to see if this trend continues.

[Malam90]

Hi,

Is there a way to disable all server settings password, encryption,... for Power Users group? Other word only Admin users can change the change these settings.

Hi, please don't spam here. You can reply only topic related. thanks