KCN: EU: WHAT TO DO WITH LIBRA?!

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The European Union has not decided what to do with the Libra cryptocurrency.

According to a February 19 note by the Executive Vice President Dombrovskis on behalf of the European Commission: “There is a need to ensure clarity about the legal status of the Libra initiative. However, the available information on Libra and the Libra ecosystem lacks detail. Therefore, the Commission sent to the Libra Association a set of questions to get further details on the project. However, as Libra is still a project, and thereby a moving target, the information provided remains insufficient for determining the precise nature of Libra and, by extension, its relation with existing EU law.”. Stay with us. See you soon!

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