The ambitious project Facebook Libra, faces many problems in Europe by its announcement in June.
Now, according with Reuters, French Finance Minister Bruno Le Maire does not want to be released to the EU, as he says it is unclear exactly how the digital currency will work.
Le Maire stated that there are many systemic economists risks, dominance risks and potential abuse of market dominance associated with Facebook's dominance:
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 EuropeanCentral Bank, called Libra a "pseudo-cryptocurrency".
He also mentioned that Facebook's goal with Libra is central mediagovernment, and central control, which is completely against the concept of a decentralized currency.
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