ECB Studying Tech Giants Move Into Financial Services

ECB Studying Tech Giants Move Into Financial Services

Benoit Coeure, the European Central Bank’s (ECB) Executive Board Member warned that financial regulators across the globe need to prepare for an income wave of tech giants entering the financial services industry. Coeure warned that failure to act will allow these companies to self-regulate, which is both dangerous, not least for the precedent it would create.

Coeure admitted that the cryptocurrency industry had exposed vulnerabilities in existing regulation, such as with tax.

Following Facebook’s announcement of Project Libra, policymakers from the UK, Europe, the US, and other countries have begun working together to react to this new reality. David Marcus, the leading executive behind Libra has been called to testify before Congress later in July.

Register for Latest Updates & News

We respect your email privacy

Subscribe now to recieve exclusive updates and offers!

Recently Similar News

Latest Guides

Latest News

Project Libra,Regulation

Ethereum Outlook for 2025

Benoit Coeure, the European Central Bank’s (ECB) Executive Board Member warned that financial regulators across the globe need to prepare for an income wave of tech giants entering the financial services industry. Coeure warned that failure to act will allow these companies to self-regulate, which is both dangerous, not least for the precedent it would […]

19 February, 2025
Project Libra,Regulation

SEC and Binance Hit Pause: A 60-Day Legal Truce Amid Regulatory Changes

Benoit Coeure, the European Central Bank’s (ECB) Executive Board Member warned that financial regulators across the globe need to prepare for an income wave of tech giants entering the financial services industry. Coeure warned that failure to act will allow these companies to self-regulate, which is both dangerous, not least for the precedent it would […]

17 February, 2025
Project Libra,Regulation

Unraveling the Crypto Coin from Trump Scam: What You Need to Know

Benoit Coeure, the European Central Bank’s (ECB) Executive Board Member warned that financial regulators across the globe need to prepare for an income wave of tech giants entering the financial services industry. Coeure warned that failure to act will allow these companies to self-regulate, which is both dangerous, not least for the precedent it would […]

13 February, 2025
Project Libra,Regulation

Japan’s Crypto Evolution: Pioneering Adoption and Regulation

Benoit Coeure, the European Central Bank’s (ECB) Executive Board Member warned that financial regulators across the globe need to prepare for an income wave of tech giants entering the financial services industry. Coeure warned that failure to act will allow these companies to self-regulate, which is both dangerous, not least for the precedent it would […]

11 February, 2025
Project Libra,Regulation

The Rise of Cryptocurrencies in Online Casinos: A Global Perspective

Benoit Coeure, the European Central Bank’s (ECB) Executive Board Member warned that financial regulators across the globe need to prepare for an income wave of tech giants entering the financial services industry. Coeure warned that failure to act will allow these companies to self-regulate, which is both dangerous, not least for the precedent it would […]

11 February, 2025
Project Libra,Regulation

Top Cryptocurrencies Expected to Perform Best in 2025 and Why

Benoit Coeure, the European Central Bank’s (ECB) Executive Board Member warned that financial regulators across the globe need to prepare for an income wave of tech giants entering the financial services industry. Coeure warned that failure to act will allow these companies to self-regulate, which is both dangerous, not least for the precedent it would […]

29 January, 2025
Project Libra,Regulation

Haru Invest – the Ideal Platform to Get in Touch with Crypto

Benoit Coeure, the European Central Bank’s (ECB) Executive Board Member warned that financial regulators across the globe need to prepare for an income wave of tech giants entering the financial services industry. Coeure warned that failure to act will allow these companies to self-regulate, which is both dangerous, not least for the precedent it would […]

22 March, 2022
Project Libra,Regulation

XBE Community Launches a $500k Bug Bounty

Benoit Coeure, the European Central Bank’s (ECB) Executive Board Member warned that financial regulators across the globe need to prepare for an income wave of tech giants entering the financial services industry. Coeure warned that failure to act will allow these companies to self-regulate, which is both dangerous, not least for the precedent it would […]

28 December, 2021