Bitcoin Flat as ECB, Global Central Banks Set to Meet with Libra Representatives

16 September 2019, 19: 03
© Reuters.


Bitcoin was flat on Monday in Asia as officials from the European Central Bank (ECB) and 25 other central banks are set to meet with Libra representatives later in the day.


Bitcoin inched up 0.1% to $10,330.1 by 1:15 AM ET (05:15 GMT). Ethereum rose 3.8% to $194.40, while XRP stayed unchanged at 0.26220.


Litecoin traded 1.8% higher to $71.437.


Libra representatives will meet with the Committee on Payments and Market Infrastructure (CPMI), which consists of 28 member banks including the Bank of England the Federal Reserve Bank of New York, later in the day.


Facebook revealed its plan to launch Lirbra, the company’s own cryptocurrency, in 2020 earlier this year. The project has been met with caution by banks and has drawn criticisms from global regulators.


Benoit Coeure, an ECB executive, said regulatory requirements to operate Libra in the European Union will be very high.


He added that it was the right time to “step up our thinking on a central bank digital currency,” as Reuters said that the ECB is currently considering its own digital currency plans. Other reports suggested that Coeure might provide a report on digital coins to G7 finance ministers in October.


Meanwhile, French Finance Minister BrunoLe Maire expressed his opposition to the development of Libra in Europe, asseting that “ our monetary sovereignty is at stake.” He “encourages European central banks to accelerate work on issues around possible public digital currency solutions,” adding that he would discuss the potential for a supposed “EuroCoin” next month.