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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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15591058 No.15591058 [Reply] [Original]

PARIS (Reuters) - France and Germany have agreed to block Facebook’s Libra cryptocurrency, the French finance ministry said on Friday.

In a joint statement, the two governments affirmed that “no private entity can claim monetary power, which is inherent to the sovereignty of nations”.

French Finance Minister Bruno Le Maire said on Thursday that Facebook’s new cryptocurrency should not be allowed to operate in Europe while concerns persist about sovereignty and persistent financial risks.

---

Is this the first salvo in the upcoming currency wars? Long crypto!

>> No.15591060

Source: https://www.reuters.com/article/us-facebook-cryptocurrency-france-german/france-and-germany-agree-to-block-facebooks-libra-idUSKCN1VY1XU

>> No.15591180

>>15591058
fuck jannies

>> No.15591335

https://www.youtube.com/watch?v=DRTqJh1fZpQ

>> No.15591350

>>15591058
What are they gonna do? Block 20+ major corporations from operating in their countries?

>> No.15591369
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15591369

Awesome. It shows why cryptocurrency needs to be decentralized to work. When corporations run cryptocurrencies they may have conflicts of interest with nation states.

Good call, frogs.

>> No.15591380

Bullish for bitcorn

>> No.15591383

>>15591350
Yes. They can block whoever the fuck violates their laws. China does that.

>> No.15591398

>>15591383
They are going to kick out Visa, Mastercard and Paypal? LMAO I'd like to see that

>> No.15591404
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15591404

>no private entity can claim monetary power, which is inherent to the sovereignty of cronies in power and their ability to print cash for crooks and nignogs
Fix'd

>> No.15591407

>>15591350
You mean 20+ major corporations that earn billions of dollars with the users in those countries without paying any taxes?

>> No.15591419

>>15591398
They can threaten to block these companies and the companies will quickly bend the knee. That's what happened with Facebook in China, for example. Nation states still rule the land at the end of the day.

>> No.15591426

>>15591407
Without a literal chinese-style firewall I don't see how they'll stop frogs from using Facebook

>> No.15591432

>>15591350
Depnds on leverage. Sometimes companies do tell countries to suck it.
What if facebooks and google shut off service to these countries?

>> No.15591456

>>15591426
France was actually talking about building a similar firewall years ago.

>> No.15591479

>>15591058
They should be more worried about Deutsche bank than faceberg's chuck e cheese token

>> No.15591499

>>15591058
>no private entity can claim monetary power, which is inherent to the sovereignty of nations

So we’re going to finally abolish the Fed?

>> No.15591509
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15591509

>>15591369

>> No.15592107
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15592107

>>15591404
based