@Steve_BA 27 November 2020 more from that month

Facebook's Libra - still uncertain

G7 leaders oppose launch of Facebook's Libra. The project must be regulated According to a G7 draft statement, the financial leaders do not agree with the launch of Facebook's stable currency: Libra. In order for it to receive the green light, the project must be regulated. The statement consulted shows that "Stablecoins" are different from speculative assets, such as Bitcoin. However, regulators have announced that they will closely monitor global developments and issue recommendations.

The document, prepared for the G7 meeting of finance ministers and central bank governors, shows that digital payments could improve access to financial services, reduce costs and inefficiencies. However, such payment services must be properly regulated and supervised so as not to undermine financial stability, consumer protection, confidentiality, taxation or cyber security. According to the document, the G7 continues to argue that no global project dedicated to stable currency should be operational until the relevant legal, regulatory and supervisory requirements are met through an appropriate mechanism and adherence to applicable standards. Fears about escalating cyber attacks G7 officials have expressed fears of increased cyber attacks after the coronavirus pandemic (Covid-19) led to an expansion of online business. Discussions about "stablecoins" emerged last year, after Facebook announced that it intends to introduce a new crypto-currency, called Libra, as part of its strategy to expand into the digital payments segment. Facebook said that Libra would be backed by real assets, such as bank deposits and government bonds, with the idea of ​​being more stable than other crypto-currencies, such as Bitcoin. But central banks and financial regulators fear that Libra could destabilize monetary policy, facilitate money laundering and erode users' privacy. Some countries have threatened to block Libra. Digital currencies should not be allowed at this time In December 2019, the EU finance ministers announced that private digital currencies, such as Facebook's Libra, should not be allowed in the EU until the risks they pose are clearly remedied.

The announcement confirms the EU's tough line against Libra, as global regulators have criticized the currency for its possible impact on the financial system. "No global stable currency arrangement should start operating in the European Union until legal, supervisory and regulatory difficulties are properly identified and resolved," the joint statement by EU finance ministers said. They said they could consider blockchain rules to regulate crypto-currencies and stable currencies as part of a global plan. My successful faucets! PipeFlare & Hive ZCash - ZEC with tier 4 referral program  https://pipeflare.io/r/1csv https://pipeflare.io/r/zxn https://globalhive.io/r/22608 **FreeCryptos:** (DASH), (TRX), (ETH), (Cardano), (BNB), (LINK), (NEO), (LTC) & (BTC) https://freedash.io/?ref=4707 https://free-tron.com/?ref=25692 https://freeethereum.com/?ref=40374 https://freecardano.com/?ref=228851 https://freebinancecoin.com/?ref=32847 https://freechain.link/?ref=1992 https://freeneo.io/?ref=2499 https://free-ltc.com/?ref=1273 https://freebitcoin.io/?ref=319581 Free-Litecoin https://free-litecoin.com/login?referer=990005 Stakecube (over 20 single click faucets per day) https://stakecube.net/?team=VSC2009 Coinbase easy $10  https://www.coinbase.com/join/stefan_5ec?src=android-link