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Bitcoin and Crypto investors have been put on notice this week when officials from the French and German governments backed the plans of the European Central Bank (ECB) for the development of a competitor. Facebook and Bitcoin Scales.
ECB said he was considering creating a public digital currency that could leave Facebook's balance dead in the water.
However, the most serious new threat to bitcoin, cryptocurrency and Facebook balances comes from Danish politician Margrethe Vestager, who was named executive vice president of the European Commission for Digital Technology this week. retaining its role as EU. & # 39; s Commissioner of Competition.
Earlier this week, France and Germany said that they could block Facebook's balance in Europe because of the risks it presents for the financial sector, while supporting the development proposed by the ECB of a public cryptocurrency alternative.
"France and Germany believe that the Balance project, described in Facebook's plan, fails to convince that these risks will be properly addressed," said French Finance Minister Bruno Le Maire and his counterpart Olaf Scholz, in a joint statement issued at the meeting of the Eurozone Finance Ministers in Helsinki, was first reported by Reuters, a wire of press.
In June, the social media giant Facebook unveiled plans for its digital currency Libra, a feature it wants to use as a global currency. putting it in direct competition with the US dollar and angering US President Donald Trump.
For his part, Benoît Coeure, a member of the ECB 's board of directors, called the plans of the Libra on Facebook an "alarm bell" that would prompt EU action. to create his own bitcoin rival, adding, "We need to intensify our thinking about a central bank's digital currency".
"We encourage European central banks to accelerate work on possible solutions to public digital currencies," said Le Maire and Scholz.
The price of bitcoin has skyrocketed this year, reaching 200%, while expectations regarding Facebook's balance and interest in bitcoin and cryptocurrency from some of the world's largest tech companies have led a new wave of investments in bitcoin.
The power of the mostly American tech giants has sowed consternation in many European countries in recent years, with Margrethe Vestager taking action against Facebook, the Apple iPhone maker and the Google search engine.
Vestager's enthusiastic pursuit of these companies has led to accusations that she hates President Trump's United States.
In a worrying development for groups like Facebook and other ambitious technology companies, Vestager has been tasked this week to reorganize the way in which EU regulates the digital world and has unprecedented control over encryption policy and bitcoin of the block.
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Bitcoin and Crypto investors were put on notice this week when officials from the French and German governments backed plans by the European Central Bank (ECB) to develop a rival for Facebook's balance and bitcoin.
The ECB has announced that it is planning to create a public digital currency that could leave Facebook's balance dead in the water.
However, the most serious new threat to bitcoin, cryptocurrency and Facebook balances comes from Danish politician Margrethe Vestager, who was named executive vice president of the European Commission for Digital Technology this week. retaining its role as EU. & # 39; s Commissioner of Competition.
Earlier this week, France and Germany said that they could block Facebook's balance in Europe because of the risks it presents for the financial sector, while supporting the development proposed by the ECB of a public cryptocurrency alternative.
"France and Germany believe that the Balance project, described in Facebook's plan, fails to convince that these risks will be properly addressed," said French Finance Minister Bruno Le Maire and his counterpart German, Olaf Scholz, in a joint statement issued at a meeting of eurozone finance ministers in Helsinki was reported for the first time by Reuters, a news wire.
In June, social media giant Facebook revealed plans for its digital libra currency, which it wanted to serve as a global currency, putting it in direct competition with the US dollar and angering US President Donald Trump.
For his part, Benoît Coeure, a member of the ECB 's board of directors, called the plans of the Libra on Facebook an "alarm bell" that would prompt EU action. to create his own bitcoin rival, adding, "We need to intensify our thinking about a central bank's digital currency".
"We encourage European central banks to accelerate work on possible solutions to public digital currencies," said Le Maire and Scholz.
The price of bitcoin has skyrocketed this year, reaching 200%, while expectations regarding Facebook's balance and interest in bitcoin and cryptocurrency from some of the world's largest tech companies have led a new wave of investments in bitcoin.
The power of the mostly American tech giants has sowed consternation in many European countries in recent years, with Margrethe Vestager taking action against Facebook, the Apple iPhone maker and the Google search engine.
Vestager's enthusiastic pursuit of these companies has led to accusations that she hates President Trump's United States.
In a worrying development for groups like Facebook and other ambitious technology companies, Vestager has been tasked this week to reorganize the way in which EU regulates the digital world and has unprecedented control over encryption policy and bitcoin of the block.