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[size=36]The Fysok coin collides with the French Wall amid global fears[/size]
Economy | 06:48 - 12/09/2019
BAGHDAD scales News
facing currency Facebook "LIBRA" many challenges to convince governments and the relevant authorities Ptqublha, most recently the French position rejecting her, because of what you see Paris financial regulatory risks of electronic currency.
France's rejection of Facebook's currency came in the words of Finance Minister Bruno Le Meyer, where he does not see clarity on the mechanism of work, "Libra", adding that it can not work in Europe under the current circumstances.
The minister cited regulatory financial risk, sovereign risk, and the potential abuse of market dominance.
"Libra jeopardizes the sovereignty of governments," the French finance minister was quoted as saying at an OECD conference in Paris.
The French minister added: "All these concerns about Libera are serious, so I would like to say this clearly: under these circumstances, we can not give permission to develop Libera on European soil."
The French finance minister has been an outspoken opponent of Facebook since the US company unveiled the project in June.
Fears of Support for Terrorism
In addition to concerns that cryptocurrency could undermine the sovereignty of other countries' currencies, challenges have arisen regarding money laundering and terrorist financing issues.
The European Commission has announced an investigation into Libera's currency as lawmakers see it as a possible restriction on competition in terms of user data exchange.
For their part, representatives of the Group of Seven warned against not allowing the use of the currency of Libera unless all problems and risks related to it are resolved.
British politicians have expressed reservations about the project. "Libra suggests that Facebook is trying to transform itself into a country," said Damian Collins, a UK lawmaker.
Facebook announced its crypto currency project Libra earlier this year and is scheduled to launch sometime in 2020. The
currency is designed to allow people to make payments through Facebook's suite of applications, including WhatsApp and Messenger, used by billions of people around the world 29 / h
facing currency Facebook "LIBRA" many challenges to convince governments and the relevant authorities Ptqublha, most recently the French position rejecting her, because of what you see Paris financial regulatory risks of electronic currency.
France's rejection of Facebook's currency came in the words of Finance Minister Bruno Le Meyer, where he does not see clarity on the mechanism of work, "Libra", adding that it can not work in Europe under the current circumstances.
The minister cited regulatory financial risk, sovereign risk, and the potential abuse of market dominance.
"Libra jeopardizes the sovereignty of governments," the French finance minister was quoted as saying at an OECD conference in Paris.
The French minister added: "All these concerns about Libera are serious, so I would like to say this clearly: under these circumstances, we can not give permission to develop Libera on European soil."
The French finance minister has been an outspoken opponent of Facebook since the US company unveiled the project in June.
Fears of Support for Terrorism
In addition to concerns that cryptocurrency could undermine the sovereignty of other countries' currencies, challenges have arisen regarding money laundering and terrorist financing issues.
The European Commission has announced an investigation into Libera's currency as lawmakers see it as a possible restriction on competition in terms of user data exchange.
For their part, representatives of the Group of Seven warned against not allowing the use of the currency of Libera unless all problems and risks related to it are resolved.
British politicians have expressed reservations about the project. "Libra suggests that Facebook is trying to transform itself into a country," said Damian Collins, a UK lawmaker.
Facebook announced its crypto currency project Libra earlier this year and is scheduled to launch sometime in 2020. The
currency is designed to allow people to make payments through Facebook's suite of applications, including WhatsApp and Messenger, used by billions of people around the world 29 / h
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