According to data from the French media, France is going to block the development of the Facebook blockchain project Libra in Europe.
A similar position was reported by Bruno Le Mer, Minister of Economy and Finance. He said that the French state cannot allow the launch of the stablecoin proposed by Libra, since the currency sovereignty of European countries could be in jeopardy.
According to Arab News, in the framework of the OECD Global Blockchain Policy Forum, which was held in Paris, the minister announced France’s clear position against launching Libra – he noted that under the current conditions Libra could not be discussed in the European space.
France is unlikely to be able to completely stop the development of the project in Europe, the country may restrict access to Libra-related applications for the French, as well as ban local organizations from working with stablecoin. So, the state will be able to limit the spread of cryptocurrency only on its territory. Regulators from other countries also show concern about the emergence of an alternative to traditional currencies, they also do not intend to weaken control.
