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German Finance Minister Says Gov't Must Reject Facebook's Libra Coin

• https://www.zerohedge.com by Joeri Cant

Prevent stablecoins from becoming alternative currencies

As reported by Reuters, on Sept. 17, German Vice Chancellor and Finance Minister Olaf Scholz said during a panel discussion in Berlin that Facebook's planned crypto coin Libra will be clearly rejected. He said:

"We cannot accept a parallel currency. [...] You have to reject that clearly." 

According to a document seen by Reuters, German regulators are working closely with their European and international allies to make sure stablecoins will not become alternatives to traditional currencies. The document reportedly read:

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