'EU to regulate cryptocurrencies like Facebook's Libra'

Image for Representation

The nominee to become the European Union's next finance commissioner pledged on Tuesday to propose new rules to regulate cryptocurrencies such as Facebook's Libra.

"Europe needs a common approach on crypto-assets such as Libra. I intend to propose new legislation on this," Valdis Dombrovskis told EU lawmakers in his confirmation hearing.

Dombrovskis, who has been the bloc's finance commissioner for the last five years and is seeking reappointment, said that in regulating virtual currencies, the EU should tackle "unfair competition, cybersecurity, and threats to financial stability".

Assembly elections 2019 | Get the latest news, views and analysis on elections in Haryana and Maharashtra on DeccanHerald.com


For election-related news in Maharashtra, click here

For election-related news in Haryana, click here

DH Newsletter Privacy Policy Get top news in your inbox daily
GET IT
Comments (+)