France Is Going To Compete With Libra

The news was announced by French central bank governor, Francois de Galha. One of the stablecoons to be searched for, is the digital Facebook currency known as Libra.

It should be noted that Facebook disclosed its coin (Libra) details last week, which aims to provide money transfer services faster and at lower costs.

The French finance minister said earlier, that we can not consider the currency “Facebook” digital as a sovereign currency.The project is expected to be reviewed by the new team and recommendations will be made next month.

The digital Facebook currency is expected to start sometime in the next year, but the project has been faced with a campaign by central banks and politicians from around the world.

As the Governor of the Bank of England has commented on the project and stated that the doors will not be open to this new stablecoin.

Markus Ferrer, a German member of the European Parliament, also warned against this new cryptocurrency and called on regulators to be vigilant about the plans of the giant social networking platform.

Please note, that is not a bit if financial advice, nor the WhaleToBe team’s view

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