Facebook Libra: German banks still skeptical of the ban, but out of the question

For almost two months, Facebook is fighting to keep his Stablecoin-project Libra before the end. Regulatory authorities at home and abroad to make the Quasi-to create a Coin.
Numerous Concerns (including money laundering and customer protection) threaten the future of the asset, and the most recent criticism comes precisely from German bankers.
According to the report, a survey conducted by the “Center for Financial Studies” (CFS) of the Goethe University in Frankfurt, 76 percent of the German bankers believe that Libra could affect the efficiency of the monetary policy of Germany is negative. Six percent of the respondents even believe that this could weaken the stability of the world economy. Concerns are always expressed time and again in the case of Bitcoin.

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It is allowed to remain, but will be monitored closely

The study also threw light on older points of criticism, the dachshunds Facebook like a puppy afterwards. The bankers consider the Libra Token as a whimsy project that will not exist due to Facebook’s turbulent past and the uncertainty over his long-term plans for a long time.
It is surprising, however, is that a vast majority of these bankers – just 61 per cent of respondents are against a ban. You think that Libra could possibly bring more harm than good. The bankers recommend, however, that the Quasi-Coin on the Basis of strict Monitoring to prevent rather than only that the Coin will be allowed in the country.
Hubertus Väth, head of the Bank lobby, Frankfurt Main Finance, commented on the report as follows:

“The survey proves once more that the financial industry is open to innovation, but also the risks keeps an eye on.”

Germany and Libra

The survey report makes it clear that Europe will reign a difficult opponent for Libra on his way to the world. The Asset has been and will be confronted from all sides with questions and concerns. And the Germans seem to have about the system now is a decision to be made.
The German Finance Minister, Olaf Scholz, is not sure what he wants to do with Libra. He has already made it clear that he wants to let Libra do not start. At a Meeting of the world Bank, Scholz has made no secret of his dislike for Libra and said that appropriate Stablecoins “should be prevented at any price”.

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