Tim Cook takes a dig at Facebok’s Libra crypto, says no plans for Apple digital coin

Apple CEO Time Cook has said that Apple does not intend to create its own cryptocurrency, saying he is firmly against the idea of companies setting up digital currencies.

Taking a dig at Facebook’s attempt to launch a digital currency called Libra next year, Cook told French financial newspaper Les Echos that money must remain in the hands of states.

“I am not comfortable with the idea that a private group creates a competing currency. A private company does not have to seek to gain power in this way,” Cook was quoted as saying.