“It is clear to me that Germany and Europe cannot and will not accept its entry into the market while the regulatory risks are not adequately addressed," Scholz said. “We must do everything possible to make sure the currency monopoly remains in the hands of states.”
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I do not support cryptocurrencies: German Finance Minister
The minister argued that the German and European banking systems need digital innovation, but without private digital currencies playing a role in it
Scholz’s remarks concerning private digital assets—which arguably includes all cryptocurrencies and stablecoins—is just the latest confirmation that the financial system is improving as a way to protect itself from private competition.
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Facebook CEO mark Zuckerberg's Libra stablecoin project is taking yet more heat from EU ministers (Photo: Wikimedia Commons/Anthony Quintano)EU leaders to Libra: Follow tough rules or face ban
In new proposals, some of Europe’s biggest economies want Facebook’s stablecoin project to be based in the EU and not in Switzerland… or else
Five of Europe’s biggest economies are urging the European Commission to enforce strict regulations for stablecoins—in the surest sign yet that Facebook’s embattled Libra project isn’t out of the woods despite drastic changes.