European regulators have now urged the European Central Bank (ECB) to create a regulated digital currency in the face of stablecoins threat. ECB may have to create a regulated digital currency to face China Coin and Libra Regulators across Europe have now asked the ECB to explore the feasibility of creating a regulated digital currency. Regulation agencies now consider stablecoins a threat to financial stability. Although stablecoins managed to stay under the radar, Facebook’s Libra changed the entire situation. Compared to cryptocurrencies such as Bitcoin that have been around for over a decade, stablecoins have only been around for five
