German Finance Minister: We cannot accept parallel currencies like Libra

On September 17, German Finance Minister Olaf Scholz said in a panel discussion in Berlin that policymakers could not accept the emergence of parallel currencies such as Libra, which Facebook plans to launch, adding that Berlin would reject any such plans. In addition, the German cabinet will adopt a comprehensive blockchain strategy on Wednesday to promote the digital transformation of its economy and address the risks posed by these new technologies. According to the document, the federal government will work at the European and international levels to prevent stable currency from becoming a substitute currency for legal tender. In addition, the German government plans to introduce legislation this year to allow the introduction of e-bonds based on blockchain.