Germany plans to block private stablecoins like Facebook's Libra
The German grand coalition, the governing coalition of the two biggest political parties in Germany, is looking to deny the launch of projects like Libra, according to a report by Spiegel. Christian Democratic Union of Germany (CDU) parliamentarian Thomas Heilmann is responsible blockchain policy of the CDU parliamentary group. Discussing the proposed legislation, Heilmann said:
"Up to now, the economy has done a great job in countering crises and inflation with measures taken by central banks. Once a digital currency provider dominates the market, it will be quite difficult for competitors."
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