mo4ch:>‘One boss – US dollar’? China & India put future of Facebook’s Libra cryptocurrency into question | Mo4ch News

India and China have expressed skepticism over Libra’s prospects, as both seek to limit the cryptocurrency trade. Beijing, in particular, is worried that US-controlled digital currency might undermine its financial sovereignty.Over 300 million Facebook users and over 400 million WhatsApp users in India will not be able to use Facebook’s Libra coin when the cryptocurrency hits the market sometime next year because of the virtual ban the government has placed on digital currency trading.“Design of the Facebook currency has not been fully explained,” India’s Economic Affairs Secretary Subhash Garg told Bloomberg on Saturday.But whatever it is, it would be a private cryptocurrency and that’s not something we have been comfortable with.While Facebook has yet to approach the Indian government for Libra approval, New Delhi is unlikely to welcome an alternative monetary system. The government is currently drafting the 'Banning Cryptocurrencies and Regulation of Official Digital Currency B…