The French Finance Ministry has deemed Facebook’s Libra digital currency too risky to be authorized for development in Europe. “All these concerns about Libra are serious. I therefore want to say with plenty of clarity: In these conditions we cannot authorize the development of Libra on European soil,” Bruno Le Maire said while speaking at an OECD conference in Paris on Thursday. He cited systemic risks which the new digital coin may pose for the European market. These include financial risks, risks for the sovereignty of other nations’ currencies, and the potential for abuse of market dominance. Also on rt
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