| Murder is also immoral. Libra is hardly morally questionable. If you want a better comparison take (software) piracy. Piracy is illegal and while I'm sure Steam, Spotify, and Netflix has reduced it a lot it is still thriving and many people break the law if not daily at least monthly. Best thing you can do is to make a law that forces banks to prevent payments to known Libra sellers, but again if there is value in Libra this hardly makes a difference. For one unless there is official list of every entity that sells them and they get instantly blocked you could just buy them before they get blocked. Secondly you could just use PayPal to transfer the money (first to your PayPal wallet and then to the seller), EU is not crazy enough to block PayPal without an alternative in sight. Secondly take any gray-market on the Internet. On these markets you can already use a range of payment methods starting with freaking Starbucks Gift Cards to just plain old cash. Yes, yes, just like most laws it will keep the honest people honest and we can assume that at least in the start that will be most of the population, but such a law would be so trivial to bypass that if there is any benefit of having some Libra people will have it and outside of completely breaking privacy of EU citizens there is nothing they can do about it. |
>Best thing you can do is to make a law that forces banks to prevent payments to known Libra sellers, but again if there is value in Libra this hardly makes a difference.
It does make a gigantic difference. They don't need to ban all of the Libra exchanges, just the big and knowledgeable ones, and go around banning anything that goes too big, so that people who want to retrieve EUR from Libra need to search a lot and comb through exchanges to see who's trustworthy. That makes using Libra a hassle, and if there's not a lot of adoption of Libra and it doesn't reach a critical mass, the currency becomes useless.
> if there is any benefit of having some Libra people will have it
That's a big if.