Valdis Dombrovskis: work is being done on the regularization of digital currencies

Valdis Dombrovskis: work is being done on the regularization of digital currencies - Dombrovskis

The vice president of the euro commission Valdis Dombrovskis, during the intervention at a meeting of the European parliament confirmed that he and the commission are working to succeed in regulate digital currencies.

Dombrovskis is a leading figure in Europe, in fact it was for 5 years president of Latvia, in the 2016 he worked as European Union Commissioner for financial stability, financial services and the single market. 

According to him, as stated during the speech: today, Europe needs a common approach to regulation of cryptocurrencies and stablecoins, such as Libra. It is therefore his intention to propose new laws on this issue as soon as possible. 

Reauters also stated that the European Union, in addition to wanting to regulate cryptocurrencies and digital currencies, wants to combat the problems of unfair competition, the threats of financial stability and computer security that they can generate. 

The rules in view of the release of Libra

The European commission is worrying about the release of Libra. Perhaps this is precisely why, the Euro Commission, chaired by Dombrovskis, is working to create a regulation system for cryptocurrencies and stablecoins. Furthermore, at the moment, the commission is also studying the potential anti-competitive behavior which may have the stablecoin which will be launched by Facebook. We must consider, that at the moment there are also two strong alt for Libra, these derive from Germany and France. France refuses that yes enables the development of Libra in Europe, according to the French minister Le Maire, circulation in the EU must not be allowed. The German Finance Minister is of the same opinion. In Italy, at the moment, there is an air of openness towards Libra.