18/09/19 12:00 UTC-4

Hitting Libra: Germany will not allow cryptocurrencies to become real money

CryptocurrencyGermany will not approve Libra
Germany will not approve Libra

The German authorities will not allow cryptocurrencies like Facebook's Libra to equal traditional currencies. Nevertheless, the German government will explore the prospects for a national cryptocurrency.


Germany vs Libra

According to Reuters, German Finance Minister Olaf Scholz said that the German authorities will not allow stablecoins, including Libra, to replace traditional currencies.

"We cannot accept parallel currencies. We must reject them," Scholz said at a conference on Tuesday.

According to the minister, the German authorities will work with their European and international colleagues to prevent cryptocurrencies from catching up with "official currencies".

On the other hand, the minister promised to "strengthen the dialogue" with the central bank of the country regarding the prospects of issuing a national cryptocurrency.

Interesting in the section: Cryptocurrencies in Germany: financial geography


See also: "BitPay will launch Ethereum support in the coming weeks"

#Libra #Cryptocurrency #Stablecoin #Germany #Facebook #CBDC

Editor: Godfrid Brower


12/10/19 04:20 UTC-4

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