Association of German Banks Calls for Digital Euro Issue
Main page News, Germany, Crypto Market, Cryptocurrency
Hot topic
Oct. 31, 2019
140 140

The Association of German Banks, which includes over 200 banks, has issued an official statement according to which, they admit that digital money has great potential that can be a key component "in the next stage of the evolution of digitalization."

The German banks will reportedly play their part in establishing a sustainable and innovative monetary system.

"This requires a European or, better still, a global identity standard. With every form of digital money, customers should be identified using a standard that is just as strict as that which banks and other obligated entities are required to apply under current anti-money laundering rulesm," notes the statement.

Previously a German politician serving as Federal Minister of Finance and Vice-Chancellor Olaf Scholz called for the creation of a digital euro coin.

Germany Passes Law to Ban Parallel Currencies Like Libra

The association also highlights digital euro must be a clearly trackable asset.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

Read also:
Please describe the error