Cryptocurrencies
France Slams Facebook's Libra, Calls for Public Digital Currency
- Libra threatens monetary sovereignty, Fin Min Le Maire says
- Le Maire spoke with Draghi, Lagarde on public digital currency
Facebook’s Calibra wallet app.
Source: Facebook
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Facebook’s Libra would be blocked in Europe because the digital currency is too risky and threatens sovereignty, French Finance Minister Bruno Le Maire said Thursday as he urged governments to work on their own public version.
Libra, as currently proposed by the tech giant, would raise concerns about market dominance, threaten the sovereignty of states, increase risks for consumers and business, and could even cause significant global financial disruption, Le Maire said at Organization for Economic Cooperation and Development in Paris.