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EU Finance Chief Says Bloc to Regulate Crypto Assets Like Libra

Oct. 8, 2019, 9:13 AM

Crypto assets such as Libra could have a systemic effect on financial stability and should be regulated by the European Union, according to the bloc’s incoming financial services chief.

Speaking to lawmakers during a confirmation hearing at the European Parliament, European Commission Executive Vice-President designate Valdis Dombrovskis said the EU is currently working on a regulatory framework for crypto assets. He added that the impact of these virtual currencies should be examined on a series of areas including financial stability, monetary stability, data protection and anti-money laundering.

“We will need to regulate Libra to supervise it on EU ...

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