Besides Facebook, backers of Libra include payment giants Visa, MasterCard and PayPal as well as ride-hailing apps Lyft and Uber. — AFP
France warned Thursday it will block development of Facebook's planned Libra cryptocurrency in Europe because it threatens the "monetary sovereignty" of governments.
"I want to be absolutely clear: in these conditions, we cannot authorise the development of Libra on European soil," France's economy and finance minister Bruno Le Maire said at the opening of an OECD conference on cryptocurrencies.
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