The EU Going To Block the Cryptocurrency Libra

French Economy Minister Bruno Le Maire said France, Germany, and Italy intend to ban the use of Libra cryptocurrency in Europe. These countries are already working on creating appropriate measures.

“Libra is not welcome in European territory. We are preparing to take measures to counter, as it is a challenge to our sovereignty” – Bruno Le Maire said.

According to him, the key problem is the planned link of Libra to the dollar, euro, and other fiat currencies. If the new digital currency becomes too popular, it will be able to affect exchange rates, as well as business and manufacturing.

Specialists prepared a report at the G7 meeting saying that global stablecoins pose a risk to the global financial system. Experts identified several key risks. Besides, the report mentions the Facebook cryptocurrency Libra.

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