Germany has passed a comprehensive blockchain strategy in which Berlin vows to f...
BERLIN - Germany has passed a comprehensive blockchain strategy in which Berlin vows to fight any company efforts to establish a parallel currency, in the latest sign that Facebook’s planned Libra faces tough regulatory hurdles in Europe.
In its blockchain strategy passed by Chancellor Angela Merkel’s cabinet on Wednesday, the government says it wants to boost the digital transformation of its economy but also tackle the risks stemming from such new technologies. The German government aims to liaise closely with its European and international allies to prevent stablecoins from becoming alternative currencies, according to the blockchain strategy passed by cabinet.
The criticism comes as the European Central Bank is working on a long-term plan to launch a public digital currency that could make projects such as Libra redundant.
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