In an answer to Facebook‘s stable coin Libra, the European Union has drafted document suggesting that they may consider issuing their own digital currency called Eurocoin.
The draft, which will be discussed on Friday, was prepared by the Finnish EU presidency.
It suggests that the European Central bank should think about issuing it’s own digital currency.
Although this document is still subject to amendments the the potential ramifications could have unimaginable repercussions in the cryptocurrency world.
Today is was reported that the draft, which will be discussed again on December 5th, urges member states to develop a common approach to crypto currency and it goes on to say that the European Union should have to authority to ban high risk projects.
Many insiders see it as an EU pushback against an ever expanding digital currency market.
Uncle Bob is veteran of the crypto game. None of what is written should be taken as financial advice and before investing everyone should do their own due diligence.
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