The second week of September has been exciting for the blockchain and cryptocurrency world. Perhaps the biggest news is that the French finance minister said his nation plans to block Facebook's (FB  ) Libra cryptocurrency in the European Union due to concerns that the stablecoin would pose a threat to the sovereignty of national currencies. At a blockchain conference, Minister Bruno Le Maire said: "I want to be absolutely clear: In these conditions, we cannot authorize the development of Libra on European soil." He added that the global stablecoin would threaten the monetary sovereignty of states and cause financial disruption. The Libra Association responded, saying the comments show the importance of the Libra project and inviting further scrutiny from and conversation with global regulators and stakeholders. On Friday, Germany also agreed to block Libra in the EU.

Here is the rest of the week in review:

North Korea, which is believed to be using cryptocurrencies to help finance weapons of mass destruction in an ongoing effort, said it will hold its second cryptocurrency and blockchain conference next February. The rogue state declared the first conference a success and promised a larger second conference. US citizens are again welcome to visit, and digital devices will be allowed in. In addition to perhaps helping North Korea reach crypto advances to further finance its nuclear program, the conference might have propaganda value by showing a sense of openness. The conferences could also boost tourism in the country, as the 2020 event includes an extensive sightseeing itinerary including a tour of the Tower of Juche Idea and a two-day ski trip.

Crypto brokerage Tagomi debuted its borrowing and lending platform to the public, enabling investors to short popular cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). Tagomi COO Kevin Johnson told CoinDesk that its new service addresses issues that thwart shorting from institutional players. He said many large investors could not short cryptocurrencies as quickly as an equity position because the existing borrowing and shorting process for crypto is too complex. CEO Marc Bharvaga said the platform brings Tagomi closer to becoming a full-suite prime brokerage, which institutional investors prefer. Tagomi raised a $12 million funding round in March and said its future services include crypto shorting and lending.

Crypto prices traded generally flat this week to $266 billion. For the majors, EOS and Ethereum finished quite green, while Bitcoin SV (BSV) and Binance Coin (BNB) posted heavy losses. In the top 100, the biggest losers were Nash Exchange (NEX), down 38%, Energi (NRG), down 24%, and Aurora (AOA), down 17%. The biggest gainers were Quant (QNT), up 35%, Cosmos (ATOM), up 32%, and Metaverse ETP (ETP), up 25%. Next week traders will see if crypto can post a convincing green week.

The author owns a small amount of BTC.