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Illustration of Facebook (CNN Indonesia / Harvey Darian)
Opposing Facebook, Europe Concerned About the New Virtual Currency
USA – It is reported that, Libra, as Facebook's new virtual currency, is able to be used by users for financial transactions throughout the world. With the number of monthly users reaching 2.4 billion people, Libra has the potential to shake the world banking system.French Finance Minister, Bruno Le Maire said that, Facebook's decision to release virtual currency or money has made European concerns as virtual money will never replace what the government has determined. He also insisted on opposing Facebook's plan to demand regulatory guarantees.
According to AFP on Saturday (6/22), Le Maire stated that, it's alright for Facebook to make instruments for transactions. However, there is no question that this will be a sovereign currency, and it cannot and should not be a sovereign currency, with all currency attributes. He also stated that, the sovereignty aspect must remain in the hands of the government and not private companies.
Le Maire also explained that, it needs to be restricted so that the transaction instruments do not even finance terrorist activities or other prohibited activities in the future. On the other hand, Bank of England Governor, Mark Carney said that, Facebook's new virtual currency must be resistant to supervision over supervision and not to be used for money laundering and unofficial transactions.
Apparently, this new policy about the banned virtual currency has made the US angry as previously, the Le Maire government has made Facebook have to pay taxes as well and now Europe including France also currently checking the guarantees needed for virtual currencies to be released.
Source: https://www.cnnindonesia.com/ekonomi/20190622095335-78-405493/rencana-mata-uang-virtual-facebook-beri-kecemasan-ke-eropa
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