European politicians and central bankers are wary about Facebook’s potential to displace national currencies, reported Bloomberg.
French finance minister Bruno Le Maire stated it would be “out of the question” for Facebook’s Libra Coin to act as a national currency and that the social media giant would have to give some guarantees. Le Maire also urged the Group of Seven national bank governors to prepare a special report on Facebook’s coin for their meeting in July.
Markus Ferber, European Parliament member, also expressed similar concerns. With upward of 2 billion potential users for the payment services, Fa...