French Finance Minister Vows To Block Libra In Europe

Law360 (September 12, 2019, 3:07 PM EDT) -- France’s finance minister said Thursday that Facebook’s Libra cryptocurrency project threatens the monetary sovereignty of European governments, urging them to consider creating a separate “public digital currency.”

Bruno Le Maire’s comments were delivered in a speech to the Organisation for Economic Cooperation and Development in Paris, in which he highlighted money laundering, terrorism financing and other potential financial risks posed by the tech giant’s cryptocurrency, which is slated to launch in the first half of 2020.

“All these concerns about Libra are serious,” Le Maire said, according to a translation by Law360. “So I want to be very clear: In these...

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