Too dangerous,: ECB’s Director calls a response to Facebook Coin

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Juli 8, 2019

ECB Director benoît Cœuré warns lawmakers against regulatory spaces to group currencies, such as Facebook to can Libra open. This is „simply too dangerous“. Rather, the applicable statutory legislation and to direct the Expansion of the Tech giant in an orderly fashion. However, not only in Europe, the policy has been worried in the face of the currency project. On the other side of the Atlantic Libra these days, waves.

By David Barkhausen
8. July 2019BTC$11.862,00 4.36%part Facebook Twitter LinkedIn xing mail

Facebook’s currency project Libra is not shaken these days only the banks and the financial sector. Also, the policy fears for your state’s money monopoly. A private currency in the hands of corporations outside of their own control – above governments out in the world.

Once in the past few days, numerous politicians have voiced their concerns over Libra, a right now, Benoit Cœuré, member of the management Board of the European Central Bank (ECB), in the warning tone of his counterpart.

As the US economic news, Bloomberg reports, called Cœuré last Sunday, the 08. July on an event in the French Aix-en-Provence, a speedy legislative response to Libra. From the regulators it applies, the Expansion of international Tech companies like Facebook in the financial sector as soon as possible to prepare.

It is out of the question, that we allow it [Facebook] to develop Libra will be in a legal vacuum, because this is just too dangerous […] Now we have to move faster than we have done in the last,

calls the 50-year-old Frenchman legislature to Act. According to Mario Draghi, he is regarded as the second most powerful man in the governing and shaping the course of monetary policy is crucial.

in His view, the current rise of digital currencies reveal both defects in the existing regulation, as well as the Failure of the banks to a technological Innovation. There was, however, lost Nothing:

All these projects are a useful Wake-up call for the Supervisory authorities. They encourage us to ask questions and to improve our way of working,

the governing Council is self-aware.

Libra suggests political waves: U.S.-MEPs call for a stop

Immediately after its release in June, all had progressed, the French Finance Minister, Bruno Le Maire found words of warning to Libra. So standing it out of the question that the project should be a sovereign currency. Facebook is a private company, the issuance of currencies in turn solely in the hands of the state. The Governor of the French Central Bank, and Francois Villeroy de Galhau, had brought plans for a research unit in the framework of the G7 into the game. This is to present to the heads of state and government of the Western industrial States in July, a report to the private currency projects.

But also on the other side of the Atlantic Libra these days, waves. Currently, five American Democrats are calling on Facebook CEO Mark Zuckerberg in a public letter to put Libra on the ice. More than 30 other civil society groups and organizations to join in this demand. In view of the protest must Facebook Libra-Manager David Marcus now in this month a public survey conducted by the American Congress.

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