Germany has adopted a strategy to combat the issue of private digital currencies

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

According to the adopted strategy, the cabinet of Angela Merkel considers it necessary to accelerate the digital transformation of the German economy and the development of blockchain technology as a structural element of the future Internet. Moreover, the policy of the authorities should protect the economy from the risks associated with new technologies.

“We want to be at the forefront and further strengthen the position of Germany as a territory for the development of technology. At the same time, we must protect consumers and state sovereignty. A key element of state sovereignty is the issue of currency, and we will not leave this task to private companies, ”said Finance Minister Olaf Scholz.

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

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

Earlier, French Finance Minister Bruno Le Mayor said that his country would not allow the development of Libra in Europe. At the same time, the head of the Facebook digital currency project, David Marcus, recently again tried to convince regulators that Libra does not threaten the monetary sovereignty of states.

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