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Alarmed by Libra, EU to look into issuing public digital currency: draft

“The social media firm said in June it planned to launch its Libra digital currency next year” writes Min Read for ECB board member Benoit Coeure said in September the bank should “step up” its thinking on a public digital currency.BRUSSELS (Reuters) – The European Central Bank should consider issuing a public digital currency, an EU draft document said, after plans by Facebook to introduce a private one met with a hostile response from global regulators.Digital currencies like Libra – also known as stablecoins – are usually backed by traditional money and other securities, while crypto coins like bitcoin are not.

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