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Nearly 75% of German consumers would reject Facebook's Libra: Survey



Nearly three-quarters of German consumers would not use Facebook's planned digital currency, Vågen, according to a recent poll.

Only 27 percent consider using Weight

17. In October, Cointelegraph auf Deutsch reported that of 2000 Germans, aged 16 and over, only 27 percent would ever consider using Facebook's Libra stablecoin as a means of payment at home or abroad.

The survey was carried out on behalf of the Wirtschaftswoche business news magazine and Creditplus Bank AG. The results indicate that 73 percent completely reject the idea of ​​Libra as a digital currency. 42 percent because they do not trust Facebook as a company and 31

percent because they only trust state-controlled currencies.

The rejection of Weight among the age group over 35 years is significantly higher than among younger consumers. In the 55-plus age group, 85 percent said it is impossible to do anything with the digital Facebook currency. Libra finds its greatest support in the age group between 22 and 34 years. In this age group, almost 42 percent of consumers would be open to using stablecoin.

German Finance Minister Rejects Vågenmynt

Germany is obviously not the biggest fan of Facebook's Weight. Cointelegraph reported in September that German Finance Minister Olaf Scholz stated that policy makers cannot accept parallel currencies such as Facebook's proposed Libra stablecoin.

This statement was quickly followed by news that the German government had approved a blockchain strategy to prevent stablecoins from becoming alternative currencies and threatening state sovereignty.

US Senator Supports Libra

US Senator Mike Rounds wrote to Nathan McCauley, president of the Anchorage Trust crypto-depositary, expressing his concern that other parts of the world are "dwarfing" the US in innovative payment technologies. Cointelegraph reported that the senator was surprised to see his colleagues react with such hostility to the establishment of Facebook's Libra stablecoin. Rounds wrote to McCauley:

"It is deeply disappointing that my colleagues chose to approach your peers in such an ominous tone that I fear may put a cold on innovation in the long run."


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