France proposed to create a digital currency of the European Union

French Finance Minister Bruno Le Mayor proposed creating an EU digital currency. He stated this at an informal meeting of EU ministers of economy and finance in Helsinki, TASS reports.

According to Le Mer, European countries should explore the best ways to reduce the cost of international transactions and increase their speed both within the EU and beyond.

“I submitted to the Eurogroup discussion a proposal to create a state digital currency, it will be considered in October at the next IMF meeting in Washington,” said Le Mayor.

Yesterday, the head of the Ministry of Finance emphasized that the development of the digital currency Libra from Facebook will be banned in the EU due to systemic risks and threats to the monetary sovereignty of states.

Nevertheless, the general director of Libra Association Bertrand Perez said that the launch of Libra will take place in the second half of 2020, and all problems with regulators will be resolved.

Recall that yesterday, Le Mayor also said that cryptocurrency transactions will be exempt from taxes in France.

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