FINMA is specifying the regulation of stable coins, formulating high requirements and also taking a stand on Libra. The comments cast doubt on the short-term launch of Libra in the first half of 2020, especially as other national regulators (particularly Germany and France) are explicitly positioning themselves on Libra and first members of the Association are questioning their support.
At the same time, the Chinese stable coin developed in the state-initiated DC/EP (Digital Currency/Electronic Payments) project remains largely unnoticed by the media in Europe and the USA. Although the danger of the international central banking system being undermined by DC/EP is not perceived as acute, the "China-Coin" is still controversial due to its potential for political abuse.
The market, regulation and supervision in the USA and Europe, however, have yet to provide their own answer to the gap in supply for efficient, scalable digital currencies addressed by Libra and DC/EP.
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