German Central Bank Comes Out in Favor of Libra

Although most central banks have been hesitant and sometimes outright dismissive towards Facebook’s planned cryptocurrency, Germany’s central bank chief feels differently.

“There’s no reason to be alarmed,” he told reporters. However, there’s every reason to “be vigilant,” he added. The comments came at a recent G7 meeting. Weidmann also said that Facebook should only go ahead with its plans if it can address all of its regulatory concerns. If Libra manages to deliver on its promises, then Weidmann says that the cryptocurrency will largely be a success.