Tim Cook doesn't approve of private cryptocurrencies

Apple CEO explained his position by the fact that financial institutions should be subordinate to the state. Corporations often seek benefits primarily for themselves, but not for the society.

The Apple CEO told the French newspaper Les Echos that the corporation did not intend to create its own crypto currency. In addition, Tim Cook cautioned other companies against the move, as the states should control defense and monetary regulation.

 “I deeply believe that money must remain in the hands of states… We elect our representatives to assume government responsibilities. Companies are not elected. They do not have to go on this ground,” said Tim Cook.

One of Apple's recent products is a credit card serviced free of charge. The company maintains that Apple does not assume a financial institution function, but rather provides a service in partnership with banks. For example, Apple Card was launched in the U.S. jointly with Goldman Sachs. 

Separately, Tim Cook emphasized that Apple had never sought to monopolize any field, but simply offered solutions that would be as convenient and unique as possible. But the company CEO also stressed that Apple is among the world’s biggest taxpayers.