France to Block Facebook's Cryptocurrency Development in Europe
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Sept. 12, 2019
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The Government of the French Republic has warned Facebook's representatives on Thursday that it will block any development of the Libra stablecoin in Europe.

According to the local news outlet Arab News, the new stablecoin "threatens the monetary sovereignty of governments."

French Economy and Finance Minister Bruno Le Maire claims that in the current "conditions," Europe cannot authorize the development of Libra.

France to Block Facebook's Cryptocurrency Development in Europe
Bruno Le Maire/flickr.com

French Economy and Finance Minister Bruno Le Maire claims that in the current "conditions," Europe cannot authorize the development of Libra.

"I want to be absolutely clear: in these conditions, we cannot authorize the development of Libra on European soil," said Le Maire at the opening of an OECD conference.

Earlier iHodl reported that the Autorité des Marches Financiers (AMF), France's financial regulator, allowed the first batch of crypto-related companies to operate within the country under its new regulations.

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