Libra Digital Currency to Be Blocked by France, Germany -Reuters

--The French Finance Ministry on Friday announced both France and Germany have decided to block Libra, a digital currency, Reuters reported.

--On Thursday, French Finance Minister Bruno LeMaire said the digital currency, which is being backed by Facebook Inc. (FB), would lead to "an eventual privatization of money."

--On Friday, a joint statement from the governments of France and Germany said "no private entity can claim monetary power, which is inherent to the sovereignty of nations," according to the report.

--The digital currency will be overseen by a non-profit, Switzerland's Libra Association.

Full story: https://www.reuters.com/article/us-facebook-cryptocurrency-france-german/france-and-germany-agree-to-block-facebooks-libra-idUSKCN1VY1XU?il=0

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

September 13, 2019 12:54 ET (16:54 GMT)

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