Secretary of the Treasury Germany “I doubt whether the currency will replace the legal currency”

German Finance Minister Olaf Scholz has questioned the possibility that cryptography could replace the existing legal currency. He said that in the public dialogue held in Munster, we have been thinking about whether the currency can be grasped from a monetary model perspective, saying that the risk is high when it comes to tulip inflation, as compared to the 17th century tulip bubble.

He also pointed out that the cipher money needs to be strictly monitored by the supervisory authorities as it is likely to be abused by criminal activities such as money laundering and terrorist financing. In this regard, he added, “I do not think that cryptography has become an economically important one yet. For more information, please click here .