min to read

2019-09-14 10:02:57




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According to the parliament germany's grand coalition will block libra development

The German parliament will block of Libra

min to read

2019-09-14 10:02:57

The German parliament and the federal government will block the development of the digital currency Libra and other "private steiblekoins" in Germany, Spiegel reports with reference to parliamentarian Thomas Heilmann.

The German parliament and the federal government will block the development of the digital currency Libra and other "private steiblekoins" in Germany, Spiegel reports with reference to  parliamentarian Thomas Heilmann.

 

 

The CDU/CSU Grand Coalition has already developed a strategy for regulating blockchain technology, and the government is ready to approve it. It will enshrine the ban of Libra and its counterparts.

 

According to Heilmann, who is charge of drafting the document, central banks have so far coped well with inflation and crises, and the dominance of the digital currency provider will complicate the situation.

 

At the same time, the government does not exclude the possibility of creating its own digital currency and the Bundes-Chain blockchain, and is also ready to support the development of technology startups in this sector.

 

Earlier, Minister of Finance Olaf Scholz criticized Libra, and the head of the Bundesbank, Jens Weidmann, urged politicians not to limit innovation.

 

On September 12, Bruno Le Maire, France's finance minister, declared that his country would not allow Libra to develop in Europe. A day later, he proposed to develop an EU digital currency.

 

The Libra Association believes that all problems with regulators will be solved, and the currency itself will be launched in the second half of 2020.

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