Topic: France: We can't allow Facebook's Libra in Europe - page 3. (Read 390 times)
A very strategy way to save the world has this Libra might be a new way to over take every crypto in to their save and want to over take the market by monopoly just as USD is trying to in all angle , I really support theoveby France and it will be a good one if every country follow the step cos they will not also allow any coin or token to take their jurisdiction .
The French government is concerned that Libra coin may take their financial dominance from them, thereby seeing the reduction of the overall role and power of IMF. And equally that the project is not a European start up but America. I don't know how far they can stop this when the people of Europe will be needing it for bridge building in their businesses.
Each country has its own regulations regarding crypto, france have a reason can't allow facebook cryptocurrency in Europe. We can only see what will happen after Libra launched.
I had suspected that libra will bring so much resistance. That is because Facebook has many users in each country, and it could be that transactions on the use of Libra become rivals for use on Fiat. it will be very beneficial for Facebook, and of course it will harm a country if it disrupts the economic system especially the use of fiat. However, until now there has not been any information from Facebook, but I have also heard that Germany, and several other countries are against this. this will be a difficult step for libra publishing in 2020.
Literally everybody knows that facebook is making profits by selling the user's privacy data to the companies so countries have protective law towards the people's privacy will concern about their currency since they will even further knows how much money everyone deals with.
There's a concern and potential threat to any country that will allow it to operate. Good decision for France though, they see it as centralized currency where they have projected the possible risk that it brings to them.
Things are getting clearer now for those who don't understand what Libra is. But still, not every country will follow the decision of France there would be countries that will take the bet and allow Libra to operate into their jurisdiction.
I still oppose libra because of its nature of Centralized where public will not be knowing the insight . Allowing libra doesnt make any potential growth for Crypto space . Most of the European countries still allows crypto currency compare to asian currency . I hope Libra is not following or allowing the original purpose of crypto currency. Things are getting clearer now for those who don't understand what Libra is. But still, not every country will follow the decision of France there would be countries that will take the bet and allow Libra to operate into their jurisdiction.
There's a concern and potential threat to any country that will allow it to operate. Good decision for France though, they see it as centralized currency where they have projected the possible risk that it brings to them.
Things are getting clearer now for those who don't understand what Libra is. But still, not every country will follow the decision of France there would be countries that will take the bet and allow Libra to operate into their jurisdiction.
Things are getting clearer now for those who don't understand what Libra is. But still, not every country will follow the decision of France there would be countries that will take the bet and allow Libra to operate into their jurisdiction.
I think what really the issue in here is that people and government are afraid of what really will happen in the economy imagine facebook for example has almost the data or information of every human being who signup with facebook, then libra ofcourse will then be integrate to facebook, since they all has the data required , so this makes facebook and libra makes bigger than the government having the information, on the otherhand people and the government are afraid facebook might use it against the people same with the government and takes control of everything well thats my opinion everyone is free to share their thoughts I hope we hear the others
France: We can't allow Facebook's Libra in Europe
https://www.reuters.com/article/us-facebook-cryptocurrency-france/france-we-cant-allow-facebooks-libra-in-europe-idUSKCN1VX0X5
Libra hasn't taken off but it looks like it will have a lot of roadblocks ahead specially in Europe. I don't know what steps Facebook big brass will do, but it is going to be difficult for them specially their history about protecting their user's privacy.
What are your thoughts?
Quote
PARIS (Reuters) - Facebook’s Libra cryptocurrency cannot be allowed to operate in Europe while concerns persist about sovereignty, systemic financial risks and the risk of abuses by a dominant market player, France’s finance minister said on Thursday.
https://www.reuters.com/article/us-facebook-cryptocurrency-france/france-we-cant-allow-facebooks-libra-in-europe-idUSKCN1VX0X5
Libra hasn't taken off but it looks like it will have a lot of roadblocks ahead specially in Europe. I don't know what steps Facebook big brass will do, but it is going to be difficult for them specially their history about protecting their user's privacy.
What are your thoughts?
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