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23 September 2019

EU Needs Own Digital ‘EuroCoin’ to Compete With Libra, Says France

EU Needs Own Digital ‘EuroCoin’ to Compete With Libra, Says France


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French Finance Minister Bruno Le Maire has said that Europe should consider its own “public digital currency” that could challenge Facebook’s Libra.

As reported just yesterday, Le Maire has forcefully said that lingering concerns about Facebook’s project mean that “in these conditions, we cannot authorize the development of Libra on European soil.” 

He has previously said that he would ask for guarantees from Facebook that Libra would not be exploitable for illicit activities and characterized the proposed stablecoin as an “attribute of the sovereignty of the States.”

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