Facebook’s Libra receives stern warnings from the French Finance Minister, Bruno Le Maire

Must Read

Basic Attention Token to be Available on Gemini Platform Shortly

Gemini announces the support for Basic Attention Token (BAT) trading on its platform. This is to offer...

Ethereum Classic (ETC) Finally Able To Cross The Level Of $5.20, Seeking Stability

ETC prices are in a positive position and it did acquire a resistance level of $5.30 but unable...

Darknet Found Selling Face Masks in Return For Bitcoin

Darknet websites have gained momentum faster than ever in the present. With the ongoing crisis of the coronavirus...
0
Zaryab Afser
A stock market trader, a blogger , a cryptocurrency enthusiast ... Awareness of proper trend and Action at the correct time are the 2 most imperative tools to succeed in the crypto world. He will undoubtedly provide you with the first tool. Moreover he ensures that his readers never miss any data or news of the crypto world that might end up shifting your trade to the zenith of its glory. Cheers.

While the crypto market is undoubtedly excited about Facebook’s unveiling of Libra, the crypto project that has grabbed enormous attention worldwide, there are still some factors that might turn out to be a hurdle for Libra.

Bruno Le Marie, the French Finance Minister spoke on the Radio that Libra can never operate as a sovereign currency. Since the fact that can’t be denied is the major intention of Facebook’s Libra project is to introduce a digital currency for usage on its platforms. Well, as simple as it may sound but this is undoubtedly raising several economic issues. Speaking of which these concerns on its regulations are now clearly up for a debate with Le Marie who has given some stern warnings.

Advertisement


Warnings For Libra

Le Marie has clearly warned the upcoming crypto project Libra that Currency remains the product of sovereign states and not private companies.

He also said:

That Facebook creates its own currency, a transaction instrument, why not,” Le Marie mused. “In contrast, it is out of the question that it becomes a sovereign currency,” he then warned.

Well, when observed carefully it can clearly be seen that the major reason for these warnings is the fact that there is a huge probability for Facebook to disrupt the present day ordeals of the finance world.

HOW?– Well it’s needless to say that the boundaries of Facebook are enormously expanded. And with its reach over more than 2.3 billion users, Facebook’s cryptocurrency can undoubtedly question the bank’s control over the commercial transaction. Not just this but it might intend to question the role of the state in the banking system.

Hot News

Basic Attention Token to be Available on Gemini Platform Shortly

Gemini announces the support for Basic Attention Token (BAT) trading on its platform. This is to offer the ability to deposit BAT...

Ethereum Classic (ETC) Finally Able To Cross The Level Of $5.20, Seeking Stability

ETC prices are in a positive position and it did acquire a resistance level of $5.30 but unable to maintain it. Prices also...

Darknet Found Selling Face Masks in Return For Bitcoin

Darknet websites have gained momentum faster than ever in the present. With the ongoing crisis of the coronavirus pandemic researchers on April, 6. ...

TRON (TRX) Massive Upsurge In The Prices, Bulls Are Setting Levels High

Tron is performing impressively with a positive trade with a gradual climb towards the bullish zone. TRON acquired a heavy bullish momentum after...

Cardano (ADA) Finally Breaks The Resistance level of $0.03240 After Suffering Volatility

Cardano ADA price manages to climb above the resistance level of $0.03240 There is an impressive gain of 5.46% in the prices and...

Tezos (XTZ) Price Analysis: Overall Bullish Market Gives Hope To Tezos Coin Price

Tezos is finally back in action with a significant positive movement upfront. The altcoin is having an overall gain of 4.60% with the...

Partners

Ethereum Classic (ETC) Finally Able To Cross The Level Of $5.20, Seeking Stability

ETC prices are in a positive position and it did acquire a resistance level of $5.30 but unable to maintain it. Prices also...

Darknet Found Selling Face Masks in Return For Bitcoin

Darknet websites have gained momentum faster than ever in the present. With the ongoing crisis of the coronavirus pandemic researchers on April, 6. ...

TRON (TRX) Massive Upsurge In The Prices, Bulls Are Setting Levels High

Tron is performing impressively with a positive trade with a gradual climb towards the bullish zone. TRON acquired a heavy bullish momentum after...

Cardano (ADA) Finally Breaks The Resistance level of $0.03240 After Suffering Volatility

Cardano ADA price manages to climb above the resistance level of $0.03240 There is an impressive gain of 5.46% in the prices and...

RELATED NEWS

Basic Attention Token to be Available on Gemini Platform...

Gemini announces the support for Basic Attention Token (BAT) trading on its platform....

Ethereum Classic (ETC) Finally Able To Cross The Level...

ETC prices are in a positive position and it did acquire a resistance...

Darknet Found Selling Face Masks in Return For Bitcoin

Darknet websites have gained momentum faster than ever in the present. With the...