Executive Vice President of the European Commission Valdis Dombrovskis said he intends to regulate cryptocurrencies similar to Facebook's Libra if his reelection for the European Union’s finance commissioner translates to a new mandate, media reported on Tuesday.
"Europe needs a common approach to crypto-assets such as Facebook's Libra. I intend to propose new legislation on this," Dombrovskis said during his confirmation hearings in the European Parliament and added that the EU "should bound unfair competition, cybersecurity, and threats to financial stability."
