Investing.com - The European Central Bank requires the lawmakers of the veto law on the launch of stelkins (cryptocurrencies attached to the fate currencies) in the euro zone and the larger role in the supervision of cryptocurrencies. This, in particular, is about such a coin as DIEM from Facebook (NASDAQ: FB) writes Reuters.
Central banks around the world are concerned about the growth of cryptocurrency, especially stelkopins, the cost of which is determined by one or more official currencies. They fear that their appearance can weaken control over payments, banking cases and, ultimately, the money supply.
In September, the EU outlined plans to create comprehensive rules for cryptoacivals, including stress tests, as well as capital requirements and liquidity, stating that Facebook would have to follow them before running its stelkin in the block.
In legal conclusion on the EU Rules, the ECB stated that the last word on the question of whether the launch of stelkins should be allowed in the euro zone, it should be behind it and that cryptocurrencies should not jeopardize control over inflation or security of payments.
"Evaluation of the potential threat to monetary policy and the uninterrupted work of payment systems should be included in the exclusive competence of the ECB," the conclusion of the ECB.
Therefore, the European Bank to adjust the proposed EU rules, indicating that his opinion on this issue is mandatory for national authorities that evaluate applications for the release of stelkopins.
Originally, Facebook planned to launch the STABRA called Libra, supported by the basket of official currencies, but last year he turned the project after a negative reaction from regulatory authorities. Now the company is aimed at the release of a digital coin provided by the dollar called DIEM.
The ECB stated that the issuers of stelkopins should apply "strict liquidity requirements", similar to those that apply to the funds of the money market, including significant cash reserves.
As you know, the European Bank intends to release its own coin for four years - a digital euro, which will not be applied to the EU rules for private digital currencies.
President of ECB Christine Lagard said in an interview with Reuters last month, that the regulation of cryptoaculations, such as bitcoin, should be global to close all loopholes.
- Preparation used Reuters materials
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