The head of the Bundesbank urged not to destroy the Libra cryptocurrency in its infancy
Jens Weidmann, President of the German Federal Bank and Board Member of the European Central Bank, spoke out in support of the Facebook cryptocurrency during the recent G7 meeting. Cointelegraph writes about this with reference to the newsletter published by the senior analyst of the eToro platform Mati Greenspan.
According to the publication, Weidman said that global regulators should not hold back the project in its infancy. He noted that cryptocurrencies like Libra could be attractive to consumers if their developers keep their promises..
The head of the Bundesbank also said that the world community should give time for such initiatives to develop, while drawing attention to the fact that Libra is still in its early stages of development, and warning about the danger of inadvertent destruction of innovative ideas before all their aspects are clarified..
German Member of the European Parliament Burkhard Balz has said in the past that cryptocurrencies pose no risks to financial stability in a global context.
Weidman, in turn, expressed the opinion at the end of May that digital currencies are capable of destabilizing the global financial system..
Earlier, the participants in the G7 meeting pointed out a number of threats that Libra and similar cryptocurrencies carry to protect consumers.
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