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2019-09-19 11:56:55




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Germany adopts strategy to combat the issuance of private digital currencies

Angela vs Crypto

min to read

2019-09-19 11:56:55

The German government has adopted a blockchain regulatory strategy that prohibits the issuance of any parallel digital currencies in the country, including Facebook's Libra.

The German government has adopted a blockchain regulatory strategy that prohibits the issuance of any parallel digital currencies in the country, including Facebook's Libra. This is reported by Reuters.

 

According to the adopted strategy, Angela Merkel's cabinet considers the nessecity to accelerate the digital transformation of the German economy and develop the blockchain technology as a structural element of the future of the Internet. At the same time, the policy of the authorities should protect the economy from the risks associated with new technologies.

 

"We want to be at the forefront and strengthen the Germany's position as a territory of technology development. At the same time, we must protect consumers and state sovereignty. The key element of state sovereignty is the issuance of currency, and we will not give this task to private companies," said Olaf Scholz, the Minister of Finance.

 

Germany will fight the issuance of alternative currencies together with European and international allies, the Minister added.

 

Let us recall that the German authorities plan to block the development of the digital currency Libra and other "private stablecoins", as it was reported last week. At the same time, as Thomas Heilman, the member of the German Parliament, noted at the time, the government does not exclude the possibility of creating its own digital currency and blockchain Bundes-Chain and is ready to support the development of technology startups in this sector.

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