France and Germany agree to block Facebook’s Libra


FILE PHOTO: Representations of virtual currency are displayed in front of the Libra logo in this illustration picture, June 21, 2019. REUTERS/Dado Ruvic/Illustration

PARIS (Reuters) – France and Germany have agreed to block Facebook’s Libra cryptocurrency, the French finance ministry said on Friday.

In a joint statement, the two governments affirmed that “no private entity can claim monetary power, which is inherent to the sovereignty of nations”.

French Finance Minister Bruno Le Maire said on Thursday that Facebook’s new cryptocurrency should not be allowed to operate in Europe while concerns persist about sovereignty and persistent financial risks.

Reporting by Laurence Frost; editing by Richard Lough


Articles You May Like

HIV-positive man who donated blood during pandemic faces charge of lying about sexual history
Girl dies after being caned during ‘exorcism’ in Sri Lanka
‘I Didn’t Expect These Students to Behave in Such a Frenzied Way’
Mumbai power outage could have been cyber sabotage, says minister
For Primary 1 students with behavioural difficulties, MOE programme helps them adjust to new environment

Leave a Reply

Your email address will not be published. Required fields are marked *