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  • Apple CEO believes currencies should be a matter of the state.
  • Facebook’s cryptocurrency looks forward to leaving the ground after regulatory concerns are ironed out.

In an interview with French media magazine Les Echos, Apple CEO Tim Crook has squashed ideas that had started going around his company would consider launching a cryptocurrency. Unlike Facebook Inc. which announced a digital currency, Apple has no such plans. Cook sternly:

“No,” before continuing to say:

“I truly think currency should remain in the hands of the state. I’m not comfortable with the idea that a private entity can create a modern currency.”

However, Apple’s involvement in the payment space revolves around services offered by companies such as Visa and MasterCard. For example, Apple Pay provides a getaway to PayPal. Notably, the above companies except Apple have signed up to take part in Facebook’s Libra. Cook believes that currency is better off in the hands of government:

“Currency, like defence, should remain in the hands of states “” it’s at the heart of their mission. We elect our representatives in order for them to assume the responsibilities of government. Businesses are not elected “” they should not encroach on this space.”

Read also:  PayPal PayPal on the verge of quitting Facebook Inc. Libra project