The calendar turned a new leaf, yet Facebook proposed Libra cryptocurrency is not out of the scrutiny. Libra continues to receive negative responses, this time from German Central Bank’s President Jens Weidmann. The Bundesbank President “wants to slow down the Facebook proposed crypto through regulations” claims a local report. As per the report, Weidmann believes that this crypto, tied to different currencies, will prove risky to users.
The Bundesbank President further urged Central Bank & Government to focus on developing their payment networks. As a digital Euro is in the talk, Weidmann feels that a secure network will curb any future negative backlash. Recently Libra was under the radar as Swiss President claimed it to be a “Failed Project”.
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