EU gets tough on Libra
EU finance ministers warn Facebook’s cryptocurrency, Libra, will not be welcome in Europe until its risks have been properly vetted. In a joint statement issued on Thursday, the ministers said global stablecoin arrangements will not be allowed to start operations until the “legal, regulatory and oversight challenges and risks” have been assessed. Libra has faced criticism since it was announced earlier this year, with a quarter of its original backers, including Visa, Mastercard and eBay, withdrawing their support in October.