Libra sparks European soul-searching on digital currencies and payment networks

MLex Market Insight

With Facebook’s Libra set to take on the world, the question in global financial-services circles has now turned to how best to regulate, or even whether to allow, the digital currency. Facebook is no stranger to conversations about regulation; but in Europe the advent of Libra has prompted a broader discussion about whether there isn’t a better way to cut high bank transfer charges. In the EU, commercial banks plan a rival to Visa and Mastercard – while central banks are also considering launching their own, state-backed, cryptocurrencies.