EUROPEAN UNION (EU) CONSIDER TO INTRODUCES CRYPTOCURRENCY SOON. by E. Okorie, 7th of November, 2019
European Union (EU) consider to introduce cryptocurrency soon. The proposed cryptocurrency would be similar to bitcoin and would be a major rival to Facebook libra coin
A written document for the European Central Bank has made emphasis to the EU to devise a consistent approach to all cryptocurrencies which vary from decentralized currencies such as Bitcoin e.t.c
Presently, bitcoin doesn't have any implemented major significant regulations surrounding cryptocurrencies in general although some European Union counties have their individual rules for crypto.
In a related development, China, on the other hand, has now become enthusiastic about cryptocurrency and is currently preparing to launch it's own cryptocurrency. Presently, all anti online post about Blockchain technology being a scam is being removed. China has also created and enforced a new law which would take effect on January 1st 2020. This law is centered on facilitating the development of crypto business and ensuring the security of cyberspace and information. This move done by China allegedly is responsible for the recent sudden rise in value for bitcoin price from $7400 up to above the $10,000 benchmark last month.