October 8, 2019 EU Financial Services Commissioner, Valdis Dombrovskis, pledges to create a new regulatory framework for cryptoassets.

During a confirmation hearing for his reappointment, Dombrovskis stated that “Europe needs a common approach on crypto-assets such as Libra.” Last week, the European Commission sent a questionnaire to Facebook and the Libra Association requesting information regarding Libra’s potential impact on Europe’s financial security.