ECB President Christine Lagarde calls cryptocurrencies ‘suspicious’

    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…

    Why banks fear CBDCs

    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…

    Spanish leading party proposes to create a national digital currency

    Spain’s governing party wants to be the first country in Europe and the next in the world, after the Bahamas, to create a central bank digital currency (CBDC). The Spanish Socialist Party (PSOE) has proposed the creation of a study group to implement the digital euro as a public digital currency. As reported Spanish newspaper…