France says Facebook's Libra not yet viable as G7 minister meet

CHANTILLY, France: France said on Wednesday the conditions were not ripe for Facebook to go ahead with plans for its Libra digital coin, as G7 finance ministers gathered north of Paris on Wednesday for a meeting focused on reining in the powers of big tech giants.

"There is a need for regulation, there is need for very strong commitments and obligations for that project and for the time being the necessary requirements are not fulfilled by the project Libra," he added. "If the Libra is aspiring to be used globally, countries must seek a globally coordinated response," Kuroda said."This is not something that can be discussed among G7 central banks alone."

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