Libra and cryptocurrencies must be regulated, says France

Al Jazeera | Sep 13, 2019 at 11:52 AM
  • The European Union should create a common set of rules for virtual currencies, currently largely unregulated in the bloc, to counter risks posed by Facebook’s pseudo-cryptocurrency Libra, the finance minister of France said on Friday.
  • In the absence of specific regulations, EU officials are assessing whether existing rules governing financial instruments could apply, but have so far reached no conclusion.
  • Tiny Malta, which already hosts the bloc’s largest online gambling industry and a big finance sector, has devised its own framework to attract virtual currency operators.