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EU to push G20 on global response to Facebook's Libra, warns of trade risks to growth - document

EU to push G20 on global response to Facebook's Libra, warns of trade risks to growth - document
FILE PHOTO: A 3D-printed Facebook Libra cryptocurrency logo is seen in front of displayed German flag in this illustration taken, September 13, 2019. REUTERS/Dado Ruvic -
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Dado Ruvic(Reuters)
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BRUSSELS (Reuters) – European Union finance ministers will tell their counterparts at a G20 meeting on Oct. 17-18 that a global regulatory response is needed to virtual currencies such as Facebook’s Libra, an EU document said.

The ministers, who will formally approve the text next week, are also calling on G20 partners to reform their taxation of digital companies in 2020 and to urgently address trade tensions which “put global growth at risk,” the document said.

(Reporting by Francesco Guarascio @fraguarascio; Editing by Hugh Lawson)

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