Skip to content
Subscriber Only

Facebook Token Runs Into Instant Political Opposition in Europe

  • French finance chief says it can’t be a ‘sovereign currency’
  • Germany’s Ferber sees Facebook becoming a shadow bank
Bloomberg business news
Facebook Wants New Cryptocurrency to Rival the Dollar
Updated on
From

Facebook Inc.’s ambitious plan to roll out its own cryptocurrency ran into immediate political opposition in Europe, with calls for tighter regulation of the social-media giant.

French Finance Minister Bruno Le Maire said the digital currency known as Libra shouldn’t be seen as a replacement for traditional currencies.