Apple Inc Chief Executive Tim Cook has weighed in against launching an Apple cry...
PARIS - Apple Inc Chief Executive Tim Cook has weighed in against launching an Apple cryptocurrency, saying in remarks published on Thursday that companies should not be trying to gain power by establishing competing currencies.
Three months ago, Facebook announced plans to launch a digital currency in June 2020, in partnership with other members of the Libra Association set up by the U.S. tech giant to manage the project. “No. I really think that a currency should stay in the hands of countries. I’m not comfortable with the idea of a private group setting up a competing currency,” he said.Facebook’s attempt to drag cryptocurrencies into the mainstream has since met with regulatory and political scepticism globally, with France and Germany pledging to block Libra from operating in Europe.
That speculation grew in September when an Apple executive told CNN Business that Apple was “watching” cryptocurrency.“Currency, like defence, needs to stay in the hands of countries, that’s the heart of their mission,” Cook said.
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