Updated with a statement from the Libra Association (Sept. 13, 07:05 UTC).
The French finance minister has said the nation plans to block Facebook's Libra cryptocurrency in the EU over concerns that it poses a threat to the sovereignty of national currencies.
According to The Independent newspaper on Thursday, Bruno Le Maire, Economy and Finance Minister of France, said:
Le Maire was speaking at the opening of an OECD conference on blockchain and cryptocurrencies in Paris, France.
, meanwhile, adds that Le Maire said "It would be a global currency, held by a single player, which has more than two billion users around the world. The monetary sovereignty of states is under states is under threat."
Le Maire reportedly expressed concerns that Libra may "substitute itself as a national currency" and potentially cause financial disruption.
"I don't see why we should dedicate so much effort to combating money laundering and terrorist financing for so many years to see a digital currency like Libra completely escape those regulatory efforts," he said.
The Libra Association told CoinDesk:
A CNBC report indicated that Le Maire also said today that he's discussed the creation of a “public digital currency” with outgoing European Central Bank president Mario Draghi and Christine Lagarde, who will take over his position later this year.
CoinDesk has reached out to the Libra Association for comment and will update this breaking story if more information is received.
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