{"id":33007,"date":"2020-12-08T11:55:19","date_gmt":"2020-12-08T09:55:19","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=33007"},"modified":"2025-08-28T11:37:49","modified_gmt":"2025-08-28T08:37:49","slug":"germanys-finance-minister-brands-libras-renaming-a-wolf-in-sheeps-clothing","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/germanys-finance-minister-brands-libras-renaming-a-wolf-in-sheeps-clothing\/","title":{"rendered":"Germany’s finance minister brands Libra’s renaming ‘a wolf in sheep’s clothing’."},"content":{"rendered":"

Something more than a simple rebranding of Facebook’s cryptocurrency will be required to ease regulators’ concerns about its launch in Europe. German Finance Minister Olaf Scholz said this, according to Reuters<\/a><\/p>\n

In remarks after a video conference of G7 finance ministers, at which cryptocurrencies were discussed, Scholz said that relaunching Libra under the new name Diem is merely cosmetic.<\/p>\n

\n

“The wolf in sheep’s clothing remains a wolf. It is clear to me that Germany and Europe cannot\u2014and will not\u2014agree to see it enter the market until regulatory risks are properly addressed,” the minister added.<\/p>\n<\/blockquote>\n

According to him, regulators “must do everything possible to ensure that the currency monopoly remains in the hands of states.”<\/p>\n

Earlier, Scholz stated that money issuance cannot be undertaken by private companies, as this function is central to state sovereignty. Later, the German government adopted a strategy to curb the issuance of private digital currencies.<\/p>\n

Recall, on December 1, the Libra Association renamed itself<\/a> to Diem Association. In May Facebook carried out a rebrand of the Libra wallet, renaming Calibra to Novi.<\/p>\n

Subscribe to Forklog news on Facebook<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"

Something more than a simple rebranding of Facebook’s cryptocurrency will be required to ease regulators’ concerns about its launch in Europe. German Finance Minister Olaf Scholz said this, according to Reuters.<\/p>\n","protected":false},"author":1,"featured_media":33008,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[109,1089,36],"class_list":["post-33007","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-germany","tag-libra","tag-regulation"],"aioseo_notices":[],"amp_enabled":true,"views":"40","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/33007","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=33007"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/33007\/revisions"}],"predecessor-version":[{"id":33009,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/33007\/revisions\/33009"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/33008"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=33007"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=33007"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=33007"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}