Facebook's Libra cryptocurrency should be prevented: German finance minister

From reuters.com

German Finance Minister Olaf Scholz on Friday redoubled his criticism of Facebook’s plans to launch its Libra cryptocurrency, and said creation of a new world currency should be prevented. Scholz, speaking with reporters at the IMF and World Bank fall meetings in Washington, cited growing concern about such “stablecoins” and the potential international risks they posed. The German official said he was “highly skeptical” about Facebook’s plans, adding, “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 ... (full story)