As reported by The Independent, the representative of French government, namely, Bruno Le Maire, the Finance Minister, has stated:
I want to be absolutely clear: In these conditions, we cannot authorise the development of Libra on European soil."
He made this breaking announcement at the OECD conference on crypto, following other regulators’ scrutinizing Libra recently.
Libra is intended to be used for instant money transfers via Facebook’s apps, such as Messenger, WhatsApp and Instagram around the world and be pegged to a basket of major global currencies except the Chinese yuan.
Stay tuned for more details to follow.