France to stop development of Facebook’s Libra in Europe

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Facebook announced that they’d be entering the crypto world with their cryptocurrency- Libra. Ever since the announcement, Libra has seen resistance from all over the world. The governments, as well as crypto enthusiasts and founders, have been questioning the way it will work and SEC has asked Facebook to put a pause on the development process.

Recently, France came forward and have decided to disrupt the development of Libra as it threatens the “monetary sovereignty” of the governments. Bruno Le Maire, Minister of Economy and Finance, has stated that if the conditions stay the same, then the authorization of development and usage of Libra in Europe will be stopped.

These announcements were made during the Organization for Economic Co-operation and Development(OECD) conference.

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Alexander Aryan
Alexander Aryan
After completing his Masters in Business Administration and Management from the California State University, Alexander dedicated his life into studying and writing about bitcoin and the technology behind it as he believes it to be the money of the future. Apart form being a writer, Alex is also a great speaker and loves to participate in blockchain events.

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