France’s Minister of the Economy and Finance has said the country will block the Development of Libra in Europe as it threatens “monetary sovereignty.”

Bruno Le Maire stated that he had serious concerns about the disruption the planned Facebook-led Cryptocurrency could have on governments’ economic power at a meeting of the Organisation for Economic Co-operation and Development in Paris. “This eventual privatization of money contains risks of abuse of dominant position, risks to sovereignty and risks for consumers and for companies,” said Le Maire on the subject of Libra.

Libra would be decentralized like ...