Tag: ECB

Private payment services can gain a monopoly with no benefit to other market players or economic stability, ECB board member Fabio Panetta said. The European Central Bank (ECB) is quite happy with the European Commission’s legislative proposals for the digital euro. ECB executive board member Fabio Panetta told the European Parliament’s Committee on Economic and…

According to Fabio Panetta, the volatility of crypto and aspects of blockchain technology made digital assets only suitable for gambling. Fabio Panetta, an executive board member of the European Central Bank (ECB), has suggested a dark future for cryptocurrencies, in which the digital assets may be used for little more than gambling among investors. In…

The European Central Bank exercise looked at a variety of use cases, most of which were quite satisfactory, as well as the use of self-custodied wallets. The European Central Bank (ECB) has published a summary of the results of its digital euro central bank digital currency prototyping exercise. The exercise investigated offline use of a simulated digital…

The digital euro, if it is created, will be available to Eurozone users first through familiar onboarding procedures. The European Central Bank (ECB) released its third progress report on digital euro design on April 24. This time the bank looked at access and distribution options that have been endorsed by the ECB’s Governing Council. Convenience is clearly…

Amid a cryptocurrencies price explosion in 2021, European Central Bank (ECB) president Christine Lagarde argued cryptocurrencies aren’t currencies, which should be treated as “highly speculative” and “suspicious.” Speaking on a Bloomberg podcast, Lagarde said: “I think we have to distinguish between cryptos that are those highly speculative, suspicious occasionally, and high intensity in terms of…

China plans an early trial of the new field of central bank digital currencies (CBDCs). It will give foreigners their first real chance to make payments using electronic renminbi issued by the People’s Bank of China. However, bankers may feel threatened, as CBDCs could significantly diminish the role of traditional lenders. New forms of digital…