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.