RATE Group | France Leads Anti-Libra Coalition to Block Facebook’s Cryptocurrency in Europe
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France Leads Anti-Libra Coalition to Block Facebook’s Cryptocurrency in Europe

03 Nov France Leads Anti-Libra Coalition to Block Facebook’s Cryptocurrency in Europe

Posted at 11:49h in Cryptocurrency News by

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France Crypto in Europe

France is leading a coalition of the top five economies of Europe that aims to make the launch of Facebook crypto project Libra in the region unsuccessful.

Government representatives from France, Germany, Italy, Spain and the Netherlands have been gathering in backroom meetings to discuss the prospect of blocking Facebook’s launch of Libra in European markets. When asked to comment, spokeswoman of the French Finance Minister, Bruno Le Maire, referred to the minister’s earlier comments that he made during the G7 meeting, “Countries would lose their sovereignty to private interests and lose control over their monetary policies.”

The Eurozone has been central to the Libra debate. A month ago, the French Finance Minister said that Facebook’s Libra should be banned. Similarly, Germany’s Finance Minister, Olaf Scholz, has been “very, very critical” of Libra, according to a German government’s spokesperson.

France and Germany have also issued a joint statement last month…

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