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'We cannot sacrifice safety' for Libra: ECB's Villeroy

French central banker says Facebook must play by the rules with digital currency

European Central Bank policymaker Francois Villeroy de Galhau takes a cautious view of Libra. (Source photos by Reuters)

TOKYO -- Facebook's cryptocurrency project Libra must comply with the "highest standards for banking and financial regulation," European Central Bank policymaker Francois Villeroy de Galhau stressed in a recent interview.

The governor of France's central bank made it clear that Mark Zuckerberg, founder and CEO of the social media giant, will have to convince major economies and financial institutions that the proposed digital currency is safe -- rather than a threat to stability as some have warned.

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