European Union move Forward with Ban in stablecoins.

European Union move Forward with Ban in stablecoins.

European Union is moving forward to ban global stablecoins projects that are willing to operate in the Community.


27 Countries reunited and decided that No stablecoin project can start operations in the European Union until legal, regulatory, and supervisory challenges and risks have been properly identified and addressed,".

The Council Of Finance Ministers decided this and the projects like Facebook Libra will have to be Regulated to Operate in European Union.

This ban is not mentioning Bitcoin or other Cryptocurrency and far as I understood this is clearly to Ban global projects like Libra to operate in the Continent and this is "a punch in the stomach" for ZuckBucks!351665157-3851f116fa6245783795aa43b7dbf46780fb1a02c4ace1c94c3a8a91f7ebfd35.jpeg

Since the intentions of the Libra to expand their market  to Europe many European Countries started to wonder  how projects like that could break the financial market and with their Sovereign. 

France was the first Country to go against the Libra and now they want to Test their own CBDC in 2020.

The same European Union is favourable to CBDC and can go for it if the private sector couldn't get faster and cheaper Payment systems.


Concluding here is just notable that the Council Of Finance Ministers is only banning the Libra Digital Currency from acting in the EU Community...they are favourable to CBDC but clearly not into Libra, and for that other Stablecoins will have some problems with Regulations entering the community.


A Bitcoin & Crypto enthusiast also a crypto content independent writer!

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