Five of Europe’s biggest economies are urging the European Commission to enforce strict regulations for stablecoins—in the surest sign yet that Facebook’s embattled Libra project isn’t out of the woods despite drastic changes.
In Banque de France’s experiment on May 14, a blockchain developed by its team was used to settle an issue of digital securities by Société Générale. Covered bonds worth $44 million were issued as security tokens directly registered on a public blockchain.
The Bank of England’s statement said the group will explore “CBDC use cases; economic, functional and technical design choices, including cross-border interoperability; and the sharing of knowledge on emerging technologies.”
While China and the European Union rush forward on creating a digital currency, the U.S. doesn’t see the need for one in at least the next five years, said Treasury Secretary Steven Mnuchin.
