German Gov’t Speaks Against Approval of Facebook’s Libra in Europe
Ana Alexandre's original article for cointelegraph.com reduced by 59%
The government of Germany has spoken against the authorization of the development of Facebook's forthcoming Libra stablecoin in the European Union. As German weekly news magazine Spiegel reported on Sept. 13, the Christian Democratic Union parliamentarian Thomas Heilmann - who is responsible for the blockchain policy of the CDU and Christian Social Union in Bavaria set to be approved later in September - the government will deny projects like Libra.
"Not to allow market-relevant private stablecoins". The report notes that in its blockchain strategy the federal government envisions the development of a state-run digital currency. Heilmann made his statement on the heels of French Finance Minister Bruno Le Maire's allegation that Europe should consider its own "Public digital currency" that could challenge Facebook's Libra.
At a meeting of EU finance ministers in Helsinki, Le Maire said that he would be discussing the potential for a European public digital currency with his counterparts on the continent next month. He also reiterated his concerns that the proposed Libra stablecoin could pose risks for consumers, financial stability and even "The sovereignty of European states..
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CN [too long; didn’t read]
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