To Libra or not to Libra?

10:28, 17 December 2019

EU finance ministers have decided to block Facebook Libra and any other stablecoin (cryptocurrencies backed by conventional money reserves or physical goods), according to a Reuters report. However, despite the news Facebook-sponsored digital currency Libra will eventually get the green lights, said a representative of the project.

The EU, wary of new virtual currencies – Libra in the visor

Private digital coins such as Libra will have to address its risks issue before being allowed in the European Union. 

The cryptocurrency has attracted plenty of criticism from global regulators ever since it was announced in June 2018. Some of its original backers (such as Visa and Mastercard) have even abandoned the project in October, leaving Facebook and Libra with fewer supporters when it’s scheduled for release in June 2020.

New public digital currencies, already in the works

On the other side of the barricade, the European Central Bank is working on developing a public digital currency of its own, which could turn out to be an alternative to private initiatives such as Libra. 

Furthermore, France has also responded to the so-called threats these stablecoins allegedly pose to its sovereignty and announced it would issue a crypto of its own. The governor of the Banque de France even indicated that the official kick-off would be next year.

At the same time, EU ministers have said they could create rules and regulations for the crypto-based assets and stablecoins. This could be a turning point for the markets, and it will be exciting to see how everything unfolds. 


The information presented herein does not constitute and does not intend to constitute Investment Advice. The information contained herewith is a compilation of public stock recommendations issued by various financial analysts and organized in an easily presentable format, for information purposes only. Key Way Investments Ltd does not influence nor has any input in formulating the information contained herein. The content herewith is generic and does not take into consideration individual personal circumstances, investment experience or current financial situation. Users/readers should not rely solely on the information presented herewith and should do their own research/analysis by also reading the actual underlying research. Users/readers should also consider the risk of encountering significant losses when trading CFDs. Therefore, Key Way Investments Ltd shall not accept any responsibility for any losses of traders due to the use and the content of the information presented herein. Past performance is not a reliable indicator of future results. HIGH-RISK INVESTMENT WARNING: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.84% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.


  • CAPEX is a fully regulated broker. We’re licensed by CySEC and registered by multiple finance entities around the globe.

  • We put safety first! Our security systems and measures are designed to keep your data and funds safe at all times.

  • We designed our trading conditions to meet the needs of even the most sophisticated traders!

  • Trade over 2,100 CFDs (Contracts For Difference), from Forex and Indices to ETFs, Commodities and Cryptocurrencies!