min to read

2019-10-07 12:02:22




News

GERMAN FINANCE MINISTRY CALLS FOR DIGITAL EURO

OLAF SCHOLZ BELIEVES

min to read

2019-10-07 12:02:22

German Finance Minister Olaf Scholz believes that the country should not lag behind other states or private companies with the issuance of digital currency, reports Wirtschafts Woche.

German Finance Minister Olaf Scholz believes that the country should not lag behind other states or private companies with the issuance of digital currency, reports Wirtschafts Woche.

 

“Such a payment system would be good for financial center Europe and its integration into the world financial system. We should not leave the field to China, Russia, the US or any private providers, ” Scholz said.

 

Last month, the German government adopted a blockchain regulatory strategy that bans the country from issuing any parallel digital currencies, including Facebook's Libra.

 

“A core element of state sovereignty is the issuing of a currency, we will not leave this task to private companies,” the minister emphasized then.

 

It should be reminded that the French Finance Minister said that the development of Libra in Europe would be blocked.

 

The European Commission has already opened an antitrust investigation against Facebook's not-yet-existing stablecoin.

 

Earlier, the US Congress also proposed the Fed to issue a digital dollar. US lawmakers are concerned that the People's Bank of China has completed the development of the yuan-based CBDC.

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