<p>The German grand coalition, the governing coalition of the two biggest political parties in Germany, is looking to deny the launch of projects like Libra, according to a <a href="https://www.spiegel.de/netzwelt/netzpolitik/facebook-bundesregierung-will-kryptowaehrung-libra-nicht-zulassen-a-1286664.html">report</a> by Spiegel.</p> <p>This month, members of the German government will approve the country's blockchain strategy which will "not allow market-relevant private stablecoin" to exist in the country, according to Christian Democratic Union of Germany (CDU) parliamentarian Thomas Heilmann. Heilmann is responsible blockchain policy of the CDU parliamentary group.</p> <p>"Up to now, the economy has done a great job in countering crises and inflation with measures taken by central banks," says Heilmann. "Once a digital currency provider dominates the market, it will be quite difficult for competitors."</p> <p>Germany's move comes after France’s Minister of the Economy and Finance, Bruno Le Maire, <a href="https://www.theblockcrypto.com/post/39465/france-to-block-development-of-facebooks-libra-crypto-says-minister/">claimed</a> that the country would halt the development of Facebook’s planned Libra stablecoin in Europe because it threatens the “monetary sovereignty” of governments.</p>