Portuguese Finance Minister: Worried about Libra, should not start such a stable currency project before all problems are solved

Portuguese Finance Minister Ricardo Mourinho Felix today expressed concern about Facebook's digital currency Libra, saying it should not circulate until it could resolve the risks posed by the financial system. He said at a conference: "It is obvious from the beginning that Libra is a high-risk phenomenon with systemic influence… It is important that a 'stabilized coin' project like Libra cannot be launched until all problems are properly addressed. The European Union said on Tuesday that it would propose a new law to cover cryptocurrency projects like Libra and said they pose a risk to the broader financial system. Felix stressed that Portugal is as uneasy about Libra as other European countries.