The European Central Bank wants veto power on the launch of stablecoins such as Facebook’s Diem in the euro zone and a greater role in their supervision, it has told European Union lawmakers. Central bankers around the world are worried that the rise of cryptocurrencies, especially stablecoins which derive their value from one or more official currencies. They fear that could dent control over payments, banking and, ultimately, the supply of money. The EU set out plans in September to create comprehensive rules for crypto-assets, including stress tests as well as capital and liquidity requirements, saying Facebook ... (full story)