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.
"At the same time, we must protect consumers and state sovereignty," Scholz said."A core element of state sovereignty is the issuing of a currency, we will not leave this task to private companies." On Tuesday, ECB board member Francois Villeroy de Galhau said stablecoins like Facebook's Libra highlighted gaps in rules, adding that the media giant's payments project faced a tough regulatory approach.
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