Libra is an “Innovative Concept” and Should Not Be Suppressed: Germany’s Central Bank Head


Jens Weidmann, the President of Germany’s Central Bank Bundesbank, stated that global regulators should not suppress Facebook’s Libra project in its early stages. The statement appeared in an email newsletter shared by Mati Greenspan, a senior marketing analyst at eToro.

The letters appears to show support by Weidmann of the Libra project at the G7 meeting and his position that such a project can be attractive to consumers. He also appears to inform the global community that it needs to give more time for such initiatives.

It appears that G7 finance ministers do not agree with Weidmann’s position. They recently warned about the risks of digital currencies on the world’s financial system sans regulation. Bruno Le Maire also reported stated during a news conference that G7 “cannot accept private companies issuing their own currencies without democratic control.”

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

[Domain Disclosure] The crypto-community content sourced, created and published on BitcoinExchangeGuide should never be used or taken as financial investment advice. Under no circumstances does any article represent our recommendation or reflect our direct outlook. We b-e-g of you to do more independent due diligence, take full responsibility for your own decisions and understand trading cryptocurrencies is a very high-risk activity with extremely volatile market changes which can result in significant losses. Editorial Policy \ Investment Disclaimer

Read Original/a>
Author: Bitcoin Exchange Guide News Team

Related Articles