ECB’s Yves Mersch Warns Libra Cryptocurrency Is ‘Facebook ...

Commercial banks need to develop faster payment systems to counter the rise of cryptocurrencies, according to one European Central Bank executive. Yves Mersch, who sits on the ECB’s executive board, made the argument even while dismissing the impact of cryptocurrencies during an event in Rome, according to a Reuters report. Speaking this morning, Mersch said: […] Yves Mersch, European Central Bank’s key legal official, said that Facebook’s Libra stablecoin is “beguiling but treacherous” during a speech at the ECB’s legal conference in Frankfurt on Monday. Bloomberg reported on Mersch’s remarks in an article published on Sept. 2. Per the report, he said that private currencies have little or no prospect of establishing themselves as viable ... Yves Mersch, who is an ECB director, is one of the bitcoin-skeptics. Answering questions of the Börsen-Zeitung’s journalist (interview was published on December 29, 2017), he expressed his considerable concern over futures, grounded on bitcoin, which were launched at giant exchanges CME and Cboe by the end of the last year. ECB’s Yves Mersch Warns Libra Cryptocurrency Is ‘Facebook’s Siren Call’ Yves Mersch, European Central Bank’s key legal official, said that Facebook’s Libra stablecoin is “beguiling but treacherous” during a speech at the ECB’s legal conference in Frankfurt on Monday. Bloomberg reported on Mersch’s remarks in an article published on Sept. 2. Per the report, heRead More In May, European Central Bank executive board member, Yves Mersch, confirmed in a speech at industry conference Consensus, that the European Central Bank was one of at least 66 central banks ...

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