Germany opposed the launch of the cryptocurrency project Libra

The German authorities, following the French government, intend to prevent the launch of the cryptocurrency project Libra.

Member of the Christian Democratic Union of Germany Thomas Heilmann said that according to the state blockchain strategy, which members of the German government should adopt this month, private stablecoins will be banned in the country.

“Central banks still coped well with their tasks in countering the crisis and inflation, which had a wonderful effect on the country’s economy. However, this task will become more complicated after suppliers of digital currencies begin to dominate the market, ”said Heilman.

Recall that on Thursday, French Finance Minister Bruno Le Mayor also opposed the development of the Libra cryptocurrency project on European territory, as this could threaten the sovereign currency of the state.

However, with regard to bitcoin, the German Ministry of Finance was more loyal, recognizing the first cryptocurrency as a means of payment in March last year.