- Olaf Scholz, the German finance minister has expressed much concern regarding Facebook’s Libra.
- He cited the growing concerns about stablecoins and potential international risks.
German Finance Minister Olaf Scholz has further made his criticism known on Facebook’s plans to launch its Libra cryptocurrency. He noted that the creation of a new world currency should be prevented.
Scholz, the reasoning was aimed at the growing concern about such “stablecoins” and the potential international risks they posed.
The German finance minister made it clear that he was “highly skeptical” regarding Facebook’s plans.
He said:
We will carefully monitor the situation with all the means at our disposal. I am not in favor of the successful creation of such a world currency because that is the responsibility of democratic states.
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