Will the EU Launch Its Own Digital Currency?
When social media giant, Facebook, launched plans to develop their own digital currency with plans to implement it through their apps and reaching potentially a billion people, it triggered a global debate, especially in the EU, about virtual currency legislation. The European Union began to look into drafting a legal framework for people, organizations and businesses on how to interact with cryptocurrencies. In an EU meeting in Helsinki, France’s minister Bruno Le Maire warned that Libra, Facebook’s cryptocurrency, could cause a risk to consumers, financial stability and even “the sovereignty of European states”. While speaking at a conference of the…





