German central bank chief has encouraging tone about Facebook’s Libra
- Jen Weidmann has an optimistic tone about Libra and can not understand why many are judging without details being clarified.
- Libra has been inundated with worries from global leaders, fear of the unknown.
German central bank chief Jens Weidmann is encouraging the Libra platform and others to, before jumping to judge it.
Weidmann has a positive tone towards Libra and is somewhat confused regarding why his counterparts in the US are so skeptical about cryptocurrencies like Libra.
Facebook’s Libra has faced much cause for concern from U.S. regulators and government officials. Aside from U.S., there is also heavy criticism and worries from other world leaders, on the crypto project from the social media giant.
Weidmann further added that if such projects provide exactly what they advertise they can have a positive effect on the market and therefore good for the consumers.
Moreover, he stated that it can be bad if the regulators suppress such projects before their “details have been clarified”.
Author
Ken Chigbo
Independent Analyst
Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.
