This was a political statement. It is far from clear that Libra would be in conflict with existing laws. Probably new laws would need to be written to forbid i

This was a political statement. It is far from clear that Libra would be in conflict with existing laws. Probably new laws would need to be written to forbid it. Germany has not had any capital controls after WW2, so I don't take it for granted that such law would pass. On the other side Facebook's reputation in Germany might be even worse than in many other countries, so that could create political pressure, even if Libra is legally not the same as Facebook. Personally as a consumer I see the biggest problem is customer support and accountability. Banks are not known for closing customers accounts and keeping the money. Internet giants are known for no customer support and (automatic?) deactivation of accounts for unspecified violations of terms of service. (Has happened to my Microsoft Drive where I stored 1 file, an encrypted backup. And HN readers have read about more cases)