The French finance minister has said that the nation plans to block Facebook's Libra cryptocurrency in the EU over concerns that it poses a threat to "monetary sovereignty."
According to The Independent newspaper Thursday, Bruno Le Maire, Economy and France's Finance Minister said:
"I will be absolutely clear: under these conditions we cannot authorize the development of the emphasis on European soil."
Le Maire spoke at the opening of an OECD conference on blockchain and cryptocurrency in Paris, France.
The Minister has previously expressed concern about the Weights threat to national currencies, and said after the June cryptocurrency debut that "It is out of date that the Libra gets" a sovereign currency. It cannot, and it must not happen. "
CoinDesk has reached out to the Libra Association for comment and will update this cracking story if more information is received.
Bruno Le Maire picture via Shutterstock