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EU considering its own cryptocurrency
European Union European Union

The European Union is considering the development of its own digital currency that could rival Facebook's Libra cryptocurrency.

Draft documents from the European Central bank urged the EU to come up with a consistent approach to all cryptocurrencies, which range from decentralised currencies like bitcoin, to state-backed efforts currently underway in China.

Until now, the bloc has failed to implement any significant regulation surrounding cryptocurrencies but several European countries have implemented their own rules.

"The ECB and other EU central banks could usefully explore the opportunities as well as challenges of issuing central bank digital currencies including by considering concrete steps to this effect," stated the document, which was seen by Reuters.

The draft could be discussed by finance ministers later this week, before potentially being adopted next month.

You know, I wasn't exactly on board with Facebook Libra... but, somehow, I don't see this being a better alternative :-/ .

Still, I guess we'll need to wait and see what happens here (and to what extent the UK uses it post-Brexit :P )
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...*sighs*.... I don't know much about cryptocurrency but one of its main things is that it is suppose to be
1) Decentralized no one person or agency is to have control over it
2) scarce its value is in its scarcity and the fact that there is only so much to go around (like gold or silver), having a centralized authority in charge means that they can add "coins" in to it, essentially making it more subsectable to devaluation al a Argentina, Zimbabwe and, The Weimar Republic

Also of course the CCP is trying one... they have their hands in everything because they want control over everything.

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