Germany's Scholz Criticizes Private Digital Currencies
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Nov. 20, 2020
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Olaf Scholz, German Finance Minister, says privacy-focused digital currencies are not included in the European Union's agenda as Europe and Germany should make progress in digitizing traditional financial systems, Reuters has learned. Scholz says he is not a fan of the idea of private cryptocurrencies such as monero (XMR) or zcash (ZEC).

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"I do not support private sector digital currencies," Scholz told delegates to the European Banking Congress.

Scholz also said he planned to invite the new administration of US President-elect Joe Biden "to join a Franco-German proposal for global minimum corporate tax levels." In October 2020, the German Finance Minister said that the country would speed up development of regulatory framework for cryptocurrencies in the European Union.

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He also welcomed the EU’s latest proposals for the regulation of the crypto market and blockchain technology.

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