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New German Chancellor Olaf Schultz issues serious warning on cryptocurrencies

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Aliens

Fri, Nov 26, 2021

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Germany's next Chancellor, Olaf Scholz, has had a negative stance on cryptocurrencies for the past three years. Ahead of the current price surges, Scholz had warned the media of a “tulip”-style bubble developing in the crypto market."

Back in 2018, Scholz had already been wary of crypto assets, and stated: “I would doubt whether [bitcoin and cryptocurrencies have] any prospects as a currency model."

In November last year, Scholz criticized Facebook's plan to launch a stablecoin, saying that the changes it made to address regulatory concerns were superficial. “I do not support private-sector digital currencies,” he said. “We must do everything possible to make sure the currency monopoly remains in the hands of states.”

Source: Forbes

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