France has said it will block the development of Facebook’s Libra stablecoin network in Europe.
France vows to block Libra in Europe
CNBC reported the bombshell announcement on 12th September, in which French Finance Minister Bruno Le Maire, said the country would not allow Libra to launch in Europe because it threatened the “monetary sovereignty of states.”
Le Maire was speaking at the opening of the OECD Global Blockchain Policy Forum 2019 in Paris and stated:
“All these concerns around Libra are serious. So I want to say this with a lot of clarity: I want to be absolutely clear: in these conditions, we cannot authorize the development of Libra on European soil.”