German Finance Ministry proposes to issue digital euro
Vice-Chancellor and Minister of Finance Olaf Scholz said that Germany does not plan to leave the cryptocurrency space. Local media reports that he approved the idea of launching national digital money.
"Such a payment system would be good for financial center Europe and its integration into the world financial system. We should not leave the field to China, Russia, the US or any private providers." - Scholz said.
It is worth noting that earlier, Scholz advised the German government not to accept parallel currencies like the Facebook-developed stablecoin Libra. According to Scholz, the ability to issue currency is a key element of state sovereignty, such a task cannot be entrusted to private companies. At the moment, a large coalition in Germany is ready to prevent the launch of Libra.
Last week, some US lawmakers suggested that the Federal Reserve consider the creation of national digital currency. In addition, the Central Bank of China is actively developing a digital national currency. As for the country own cryptocurrency, the German authorities became interested in this idea in the summer.
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