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ECB President Christine Lagarde Insists Cryptos Are Not Currencies, Calls Them Highly Speculative, Suspicious

September 17, 2021

The president of the European Central Bank (ECB), Christine Lagarde, says cryptos are not currencies, adding that they are “highly speculative, suspicious occasionally, and high intensity in terms of energy consumption.” She also discussed the need for stablecoin regulation and central bank digital currencies (CBDCs). Lagarde: ‘Cryptos Are Not Currencies. Full Stop’ ECB President Christine…
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BIS Asks Central Banks to Urgently Develop CBDCs to Compete With Crypto Assets

September 12, 2021

The head of the Bank of International Settlements (BIS) Innovation Hub, Benoît Cœuré, has urged central banks to act now on central bank digital currencies (CBDCs) to compete with initiatives in the private sector, including cryptocurrencies. “CBDCs will take years to be rolled out, while … crypto assets are already here,” he said. BIS Says…
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ECB Officially Starts to Investigate Digital Euro — Development Could Begin in 2 Years

September 7, 2021

The European Central Bank (ECB) says it is “starting to investigate” a digital euro by launching a two-year investigation. ECB President Christine Lagarde believes the ECB should be ready to respond to people’s demands for digital currencies and come up with a European-based solution that “does not jeopardize the whole banking system.” Lagarde Unveils ECB’s…
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Stablecoins are assets — not currencies, says ECB president

September 2, 2021

“Stablecoins are pretending to be a coin, but in fact it’s completely associated with an actual currency,” said Christine Lagarde. Christine Lagarde, president of the European Central Bank, said all cryptocurrencies, in which she included stablecoins and speculative assets, “are not currencies at all.” In a Sept. 1 interview with World Economic Forum founder and…
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ECB Vice President States Crypto Should Be Regulated Like Other Assets

August 30, 2021

European Central Bank (ECB) Vice President Luis De Guindos has stated he wants cryptocurrencies to be subject to the same rules that other assets are. The statements were offered in a presentation given as part of the summer courses offered by the European Parliament, where De Guindos declared his opinion about cryptocurrency regulation. ECB…
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Digital euro’s privacy promise not worth a centralized system, Oasis exec says

May 4, 2021

A former Apple executive believes the European Central Bank might just be paying lip service to the concept of privacy in relation to a digital euro. When European Central Bank board member Fabio Panetta addressed the European Union Committee on Economic and Monetary Affairs in April, he emphasized the importance of privacy in any potential…
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Decentralization is the final frontier for CBDCs

April 25, 2021

Decentralized CBDCs will most likely pique the interest of the masses much more than their centralized counterparts. As central bank digital currencies, or CBDCs, continue to garner mainstream traction across the global financial landscape in recent years, almost all central banks are actively researching the benefits and risks of offering a digital currency to the…
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European Central Bank releases results of digital euro consultation

April 14, 2021

Privacy concerns regarding the digital euro abound as the European Central bank tests the waters for a central bank digital currency. The European Central Bank has published the results of a public consultation on a potential digital euro as the institution inches closer to deciding whether to formally study such an initiative. According to a Wednesday announcement,…
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European central bankers predict that the digital euro is at least five years away

November 30, 2020

Nobody seems to be in a rush to digitize the euro, but that could change given increasing global competition. Several experts from various European banks agreed that even a proof of concept for a digital euro is four or five years away. In a panel on Monday called “Upgrading Money to the Digital Age: Introducing…
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EU will decide on digital euro in January 2021: ECB president

November 12, 2020

“At that point in time we will make the decision as to whether or not we go forward with the digital euro.” The president of the European Central Bank, Christine Lagarde, has said that the bank should reach a decision on releasing a digital euro early next year. In an online policy panel held on…
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