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French Finance Minister: Will Prevent Facebook Digital Currency Libra from Entering Europe

via:CnBeta     time:2019/9/12 21:00:32     readed:118

"in this case, we cannot authorize Facebook to develop Libra. on European soil," Lemerre said. It is obvious to all that the monetary sovereignty of European countries is currently playing a role. "

Facebook released a digitally encrypted currency called Libra in June. Libra is scheduled to officially launch next year and is expected to provide digital trading and payment services to billions of potential users. Libra immediately attracted the attention of regulators around the world.

In fact, Lemerre has always opposed the Libra project. On July 11 this year, Lemerre said he opposed the idea of making Libra a "sovereign currency." "I am opposed to making Libra a sovereign currency that competes with national currencies, and my determination remains firm," he said at the time. Because making a business a private country, I will never accept it. "

On July 17, Lemel also said that the conditions for Facebook to continue its Digital Encrypted Currency Libra program were not yet ripe. "We can't accept any convertible currency that has the same power and sovereign currency function," he said. It is necessary for us to supervise and make a very strong commitment and obligation to the project. At present, the Libra project does not meet these requirements.

In fact, the French government is not the only one worried about the Facebook Libra program. The central banks of the United States, the United Kingdom and Germany are also "paying special attention to" Libra.. Federal Reserve Chairman Jerome Powell (Jerome H. Powell) said in July that the program could not continue if the Facebook failed to allay concerns about Libra.

Yves Mersi (Yves Mersch), a member of the (ECB) board of directors of the European Central Bank, said earlier this month that the digital encrypted currency Libra in the Facebook plan could undermine the ECB's ability to make monetary policy, and people should not trust some of the unreliable commitments made by the Facebook to the Libra.

Facebook has said it looks forward to addressing policymakers'concerns about its encrypted currency plan. (Li Ming)

Related articles:

France's Task Force on G7 Encrypted Money: Facebook Libra

French Finance Minister: Facebook Libra must not be allowed to become a sovereign currency

French Finance Minister: the conditions for Facebook to continue to promote Libra are not mature

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