In this video from CryptoNewsZ on October 18, 2019, it is reported that Facebook’s cryptocurrency project, Libra, is facing more troubles as the G7 wealthy nations have stated that stable coin projects like Libra should not be allowed to launch until international risks are addressed. The group believes that digital currencies like Libra could undermine competition in the international market and threaten financial stability and monetary policy. The Economy minister of France, Bruno Le Marie, expressed concerns that Libra could undermine Sovereign Nations’ control over their exchange rates. This warning comes as Facebook faces antitrust investigations from both the European Union and the United States.
In other news, Malaysia has opened a new Blockchain village called Medini or BVAM, which is an official initiative by the government to aid the growth of the blockchain system in the country. The European Central Bank has called for the highest regulatory standards on all stablecoins, with ECB’s Executive Board member emphasizing the importance of meeting regulatory standards and broader policy goals. Viewers are encouraged to stay tuned to CryptoNewsZ for the latest updates on blockchain and crypto.
