European Central Bank Board member Villeroy: Libra will face severe scrutiny

According to Reuters today, European Central Bank board member Francois Villeroy de Galhau said that the "stabilized currency" project like Facebook's Libra will face severe supervision. Facebook has said it will apply for a license in Switzerland as a payment service operator, but this may not be comprehensive enough to meet regulatory requirements. “If the issuer of Stable Stabilization Coins also wants to provide banking services such as deposits, financial investments and loans, then they must obtain a banking license in all countries where they operate. Otherwise these activities will be illegal,” Villeroy said. It is reported that the European Central Bank (ECB) director Benoit Coeure also issued a similar view yesterday.