All of these concerns about Facebook Libra are serious. So I want to say quite clearly: under these circumstances we cannot approve the development of Libra on European territory.
In August, the EU Commission reportedly published a tender against Libra. Regulators are worried that Facebook Libra could create "potential restrictions on competition" once it has the data of consumers who use it.
In July, Yves Mersch, a Luxembourg lawyer and board member of Europeanof the Central Bank, called Libra a “pseudo-cold currency".
He said that Facebook's goal with Libra is centralized governance, and centralized control, which is completely contrary to the concept of a decentralized currency.
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