Facebook's stablecoin, libra, will not be legal in Russia, according to Anatoly Aksakov, the chairman of the Russian State Duma's committee on financial markets. Le Maire stated that Libra is an “attribute of the sovereignty of the States” and should “remain in the hands of the States and not of the private companies which answer to private interests". The central bank said it would ban cryptocurrencies from trading within Russia and restrict their use for money laundering or other illegal activities. The French minister of the economy, Bruno Le Maire, and Maxine Waters, the chair of the US House of Representatives’ financial services committee, also expressed concerns about libra, which is set to be launched next year.
Facebook's stablecoin, libra, will not be legal in Russia, according to Anatoly Aksakov, the chairman of the Russian State Duma's committee on financial markets. The central bank said it would ban cryptocurrencies from trading within Russia and restrict their use for money laundering or other illegal activities. The French minister of the economy, Bruno Le Maire, and Maxine Waters, the chair of the US House of Representatives’ financial services committee, also expressed concerns about libra, which is set to be launched next year.