TechCentralTechCentral
    Facebook Twitter YouTube LinkedIn
    Facebook Twitter LinkedIn YouTube
    TechCentralTechCentral
    NEWSLETTER
    • News

      Sarb tells banks they should work with crypto exchanges

      18 August 2022

      Telkom muscles into banks’ turf with business loans

      18 August 2022

      iPhone 14 launch date targeted for 7 September

      18 August 2022

      Icasa moves to license more broadband spectrum

      17 August 2022

      Eskom to impose more load shedding

      17 August 2022
    • World

      China blasts US over ‘discriminatory’ Chips Act

      18 August 2022

      Tencent reports first-ever sales decline

      17 August 2022

      Chip makers are flashing a big warning for the global economy

      17 August 2022

      Semiconductor boom turns to bust

      16 August 2022

      Tencent plans to offload R400-billion Meituan stake: sources

      16 August 2022
    • In-depth

      Are you a chronic procrastinator? Read this!

      18 August 2022

      African unicorn Flutterwave battles fires on multiple fronts

      11 August 2022

      The length of Earth’s days has been increasing – and no one knows why

      7 August 2022

      As Facebook fades, the Mad Men of advertising stage a comeback

      2 August 2022

      Crypto breaks the rules. That’s the point

      27 July 2022
    • Podcasts

      Qush on infosec: why prevention is always better than cure

      11 August 2022

      e4’s Adri Führi on encouraging more women into tech careers

      10 August 2022

      How South Africa can woo more women into tech

      4 August 2022

      Book and check-in via WhatsApp? FlySafair is on it

      28 July 2022

      Interview: Why Dell’s next-gen PowerEdge servers change the game

      28 July 2022
    • Opinion

      No reason South Africa should have a shortage of electricity: Ramaphosa

      11 July 2022

      Ntshavheni’s bias against the private sector

      8 July 2022

      South Africa can no longer rely on Eskom alone

      4 July 2022

      Has South Africa’s advertising industry lost its way?

      21 June 2022

      Rob Lith: What Icasa’s spectrum auction means for SA companies

      13 June 2022
    • Company Hubs
      • 1-grid
      • Africa Data Centres
      • Altron Document Solutions
      • Amplitude
      • Atvance Intellect
      • Axiz
      • BOATech
      • CallMiner
      • Digital Generation
      • E4
      • ESET
      • Euphoria Telecom
      • IBM
      • Kyocera Document Solutions
      • Microsoft
      • Nutanix
      • One Trust
      • Pinnacle
      • Skybox Security
      • SkyWire
      • Tarsus on Demand
      • Videri Digital
      • Zendesk
    • Sections
      • Banking
      • Broadcasting and Media
      • Cloud computing
      • Consumer electronics
      • Cryptocurrencies
      • Education and skills
      • Energy
      • Fintech
      • Information security
      • Internet and connectivity
      • Internet of Things
      • Investment
      • IT services
      • Motoring and transport
      • Public sector
      • Science
      • Social media
      • Talent and leadership
      • Telecoms
    • Advertise
    TechCentralTechCentral
    Home»Sections»Cryptocurrencies»Facebook’s libra is a threat to the sovereignty of nation states: France

    Facebook’s libra is a threat to the sovereignty of nation states: France

    Cryptocurrencies By Agency Staff12 September 2019
    Facebook Twitter LinkedIn WhatsApp Telegram Email

    Facebook’s libra would be blocked in Europe because the digital currency is too risky and threatens sovereignty, French finance minister Bruno Le Maire said on Thursday as he urged governments to work on their own public version.

    Libra, as currently proposed by the tech giant, would raise concerns about market dominance, threaten the sovereignty of states, increase risks for consumers and business, and could even cause significant global financial disruption, Le Maire said at Organisation for Economic Cooperation and Development in Paris.

    “All these concerns about libra are serious. So I want to be very clear: in these conditions we cannot authorise libra’s development on European soil,” the French finance minister said.

    I want to be very clear: in these conditions we cannot authorise libra’s development on European soil

    Facebook’s libra proposal has rattled policy makers around the world since its planned launch was announced in June. Global finance chiefs meeting in France earlier this year agreed that the regulatory and systemic concerns must be addressed before such projects known as stablecoins can be implemented.

    Le Maire said public authorities should rush to work on proposals for a “public digital currency”, starting as soon as the International Monetary Fund meetings in October. He noted he has already discussed the idea with European Central Bank President Mario Draghi and his successor Christine Lagarde.

    “I want us to have concrete projects available in the next few months,” Le Maire said.  — Reported by William Horobin, (c) 2019 Bloomberg LP

    Bruno Le Maire Libra top
    Share. Facebook Twitter LinkedIn WhatsApp Telegram Email
    Previous ArticleFrogfoot acquires Blitz Fibre network assets, clients
    Next Article Tech now has two trillion-dollar giants

    Related Posts

    Sarb tells banks they should work with crypto exchanges

    18 August 2022

    Telkom muscles into banks’ turf with business loans

    18 August 2022

    iPhone 14 launch date targeted for 7 September

    18 August 2022
    Add A Comment

    Comments are closed.

    Promoted

    Entelek, A2pay to roll out 2 500 free Wi-Fi sites in South Africa

    18 August 2022

    Companies are drowning in data – but solutions are at hand

    18 August 2022

    Top cybersecurity challenge is inadequate identification of key risks

    17 August 2022
    Opinion

    No reason South Africa should have a shortage of electricity: Ramaphosa

    11 July 2022

    Ntshavheni’s bias against the private sector

    8 July 2022

    South Africa can no longer rely on Eskom alone

    4 July 2022

    Subscribe to Updates

    Get the best South African technology news and analysis delivered to your e-mail inbox every morning.

    © 2009 - 2022 NewsCentral Media

    Type above and press Enter to search. Press Esc to cancel.