Tim Cook takes dig at Facebook, says Apple has no cryptocurrency plan

After Facebook announced its entry into the world of digital currencies with Libra, other tech giants were expected to follow. However, Apple has made it clear that it is not interested in cryptocurrencies. Apple Chief Executive Tim Cook, in an interview with French financial newspaper Les Echos, said that companies should not compete with governments and launch their own currencies.

“I really think that a currency should stay in the hands of countries. I’m not comfortable with the idea of a private group setting up a competing currency. A private company shouldn’t be looking to gain power this way,” he told the newspaper.

The comments from Cook has come only a month after Apple Pay vice president Jennifer Bailey said that the company is taking cryptocurrencies seriously and thinks that it’s interesting and has “long term potential”. However, Cook has put an end to speculations.

Speaking to les Echos, Tim Cook said that just like defence, money must remain in the hands of states. “It…