Finance minister: Facebook cryptocurrency needs global solution Indijos bitcoin company copied aA Facebook 's plans to issue its cryptocurrencythe Libra, as well as plans by other companies on the so-called stable coins cryptocurriencies, which would be pegged to stable assets, are now sparking major discussions and raising questions, Bitcoin šiandieninė vertė Finance Minister Vilius Sapoka says.
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And only after these questions are answered, we will find, I'd say, a global solution," Sapoka said. In his words, the existing regulation of global financial markets is fragmented, therefore, decisions by the European Unions and the Central European Bank only in the area would really not be sufficient.
I do believe a global solution will be found on the regulation of stable coins, taking into account their potential impact which might be really significant.
We will need a really global and weighted solution," the Lithuanian finance minister said. Facebook announced its plans on the Libra cryptocurrency in June and said the digital currency would be pegged to a currency basket to about major price fluctuations that have affected other cryptocurriencies, like the Bitcoin.
Facebook plans to implement the project as early as the first half of However, representatives of global central banks, politicians and regulatory authorities are concern over the private digital currency scheme. The economy ministers from G7 countries warned in July such projects might pose serious regulatory indijos bitcoin company systemic problems, as well as wide-ranging political problems.