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18 January 2021

German government unimpressed by Facebook stablecoin's rebrand

German government unimpressed by Facebook stablecoin's rebrand


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Until that is done, the German government “will not accept its entry into the market.”.

Though it still plans to create a new currency pegged to a basket of assets eventually, it would be a fully permissioned stablecoin that should enable easier regulation.

G-7 leaders made it clear earlier that they would oppose the project until it fully satisfied legal, regulatory and oversight requirements.

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