The Bundesbank has let us know that they’re OK with the idea of Facebook’s Libra project. With the one important caveat, that we don’t lose the benefits of money laundering regulations in the process. Which is a problem as I at least am entirely convinced that Libra is an attempt to make an end run around such regulations.
On the basics of course the Bundesbank is entirely correct:
The Bundesbank in Frankfurt, the most powerful member of the European Central Bank, said it was “fundamentally to be welcomed” that libra and its rivals would force traditional banks to adapt and overhaul their often slow and expensive payment systems.