Facebook Libra must meet strict standards, warns Bank of England

Digital currency must be subject to measures such as stress tests to gain approval

The Bank of England has hardened its stance on Facebook's Libra digital currency, telling the social media company it must meet its highest standards to get the green light for launch in Britain.

In its toughest intervention to date, the central bank's financial policy committee (FPC) said digital currencies such as Libra would need to reach the same high standards as those of traditional payments.