Facebook’s Libra, a still hypothetical digital asset, may set a dangerous precedent and cannot be allowed to exist in a regulatory vacuum, commented Benoit Coeure, director at the European Central Bank Executive Board.
“It’s out of the question to allow them to develop in a regulatory void for their financial service activities, it’s just too dangerous,” said Coeure for Bloomberg.
The ECB, through various directors, has expressed worries that cryptocurrencies and the creation of an alternative financial system may end up sabotaging the central bank’s monetary po...