German central bank Defends Libra

The president of Germany’s central bank Bundesbank, Jens Weidmann has come in defense of Facebook’s Libra crypto, by urging his counterparts across G7 nations not to prematurely condemn the digital currency and alternate financial system the tech giant plans to roll out. Weidmann said, “If they deliver what they promise, they can be attractive to consumers, inadvertently suppressing innovative concepts before the details have been clarified.”

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