I do not support private cryptocurrencies - German Finance Minister

FILE PHOTO: German Finance Minister Olaf Scholz briefs the media during a visit at the Charite hospital, to get first hand information from doctors working with coronavirus disease (COVID-19) patients in Berlin, Germany, November 9, 2020. Markus Schreiber/Pool via REUTERS

BERLIN (Reuters) - German Finance Minister Olaf Scholz said it was essential to make progress in making Europe’s and Germany’s banking systems better fit for the digital era, but added that this did not extend to privately-issued digital currencies.

“I do not support private sector digital currencies,” he told delegates to the European Banking Congress on Friday.

He also said he planned to invite the new administration of U.S. President-elect Joe Biden to join a Franco-German proposal for global minimum corporate tax levels.

Reporting by Thomas Escritt and Tom Sims; editing by Thomas Seythal