European Union finance ministers decided that they will block cryptocurrencies like Libra in the future – at least until the various possible risks connected to the usage of such cryptocurrencies are identified and properly addressed. This decision comes on the heels of the European Central Bank, Germany and France all criticizing the project and threatening to block it, as well as Paypal pulling out of it. And then there is the pushback it received in the United States. By the looks of it the more the project advances, the more various institutions are pushing back against it. Do you think it will even come to fruition?
I am getting so good at this thing called having a vision. Posted a few times about Facecoin instant worldwide adoption long before fb introduced libra. This should be a wake up call for all the cryptards. Pipe dream this stuff is gonna become mainstream currency. The only reason the central banks have not crack you down with guns blazing is because you haven’t had shit in adoption. Once they see something as real threat they shut you down. They have all the guns.
%% Can't blame them @ all; look @ all the cons with bitcon/bitcoin. And FB ripped plenty of people's privacy off; but thier stock is still up >50% YTD. And then there is the EU hatred/fines of big tech companies.........................................................................................................
I agree. I am not surprised by this pushback at all, I just expected it to begin even earlier than it did.