France sets up task force to deal with facebooks cryptocurrency
I think there may be some confusion here. France has not set up a task force specifically to deal with Facebook's cryptocurrency, Libra.
However, France has been actively involved in the global regulatory discussions surrounding Libra, and has expressed concerns about the potential risks and challenges associated with the cryptocurrency.
In July 2019, the French government announced that it would be setting up a task force to monitor the development of Libra and other cryptocurrencies, with a focus on ensuring that they are used in a responsible and secure manner. The task force, which is led by the French Ministry of Economy and Finance, is composed of representatives from various government agencies, including the Financial Markets Authority (AMF) and the Central Bank of France (Banque de France).
The task force's main objectives are to:
- Monitor the development of Libra and other cryptocurrencies, and assess their potential impact on the financial system and the economy.
- Ensure that Libra and other cryptocurrencies are used in a responsible and secure manner, and that they do not pose a risk to financial stability or consumer protection.
- Provide guidance and support to financial institutions and other stakeholders that are involved in the development and use of Libra and other cryptocurrencies.
It's worth noting that France is not the only country that has expressed concerns about Libra. Many other countries, including the United States, Germany, and the United Kingdom, have also raised concerns about the potential risks and challenges associated with the cryptocurrency.