A government official from India has recently expressed his discomfort with Facebook’s upcoming stablecoin, Libra. Just days after this, the social network suggested that it doesn’t have any plans to offer Libra or its digital wallet, Calibra, in what could have been its biggest market.
A spokesperson from Facebook has said that India’s ruthless anti-cryptocurrency stance – and potential ban – is the main reason they are staying away from the country.
“As you may know, there are local restrictions within India that made a launch of Calibra not possible at this time.”
News surfaced earlier this week that India’s Economics Affairs Secretary Subhash Garg had indicated that the stablecoin was unlikely to get a go-ahead from the government….