France Proposes EU Digital Currency

France has proposed the EU to create its own national digital currency and abandon the use of Facebook’s Libra cryptocurrency to protect its financial sovereignty. This was stated today by French Finance Minister Bruno Le Maire on his arrival at the meeting of the European finance ministers in Helsinki, BTA quoted Reuters and TASS as saying.

The proposal to create a national digital currency has already been tabled at the Eurogroup meeting and will be discussed at the next meeting of the International Monetary Fund in Washington in October, Le Maire stressed.

The EU needs to introduce a common set of rules for regulating virtual currencies, which is now happening mostly at national level, the minister added.