Source: EU wants to regulate stablecoins – not issue its own “eurocoin”

Nov 07, 2019

According to a draft of a new bill, the European Central Bank should consider issuing its own digital currency, something Reuters reported about the other day.

However, a source to the crypto news site Coindesk now states that the EU has no concrete plans at all to issue its own “eurocoin”.

However, they want to take a closer look at how to regulate so-called stablecoins such as Facebook’s planned cryptocurrency libra.

“This is a rather short declaration that is about the EU position on how to handle those new types of cryptocurrencies. The focus is on how those cryptocurrencies should be regulated”, the source told Coindesk.

On Friday, EU finance ministers may discuss the new proposal, which some see as a reaction to Facebook announcing that they plan to launch their libra.

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