2 years ago
Quick take:
- European Central Bank President, Christine Lagarde, has said cryptocurrencies are worthy thing and based connected nothing.
- She added that cryptocurrencies bash not person an underlying plus to enactment arsenic an anchor of safety.
- ECB President Lagarde said that a integer Euro would beryllium a amended store of worth than cryptocurrencies.
- The EU Commission connected a integer euro (CBDC) is inactive accepting consultations from experts connected the topic.
Christine Lagarde, the European Central Bank President, has said that cryptocurrencies are based connected thing and should beryllium regulated to support radical from the anticipation of speculating implicit them with their beingness savings.
Ms. Lagarde made the comments during a Dutch tv treatment wherever she besides added that integer assets are not backed by anything arsenic an anchor. Her nonstop statements connected cryptocurrencies were arsenic follows:
[I’m acrophobic astir people] who person nary knowing of the risks, who volition suffer it each and who volition beryllium terribly disappointed, which is wherefore I judge that that should beryllium regulated.
My precise humble appraisal is that it is worthy nothing, it is based connected nothing, determination is nary underlying plus to enactment arsenic an anchor of safety.
A Digital Euro Would beryllium a Safer Bet
Ms. Lagarde besides admitted that she does not clasp immoderate cryptocurrencies due to the fact that she wants to signifier what she preaches. She, however, was optimistic astir the prospects of a Digital Euro being a safer alternative. She said:
The time erstwhile we person the cardinal slope integer currency out, immoderate integer euro, I volition warrant — truthful the cardinal slope volition down it and I deliberation it’s vastly antithetic than galore of those things.
EU Commission connected a Digital Euro Is Still Accepting Comments from Experts connected the Topic
Concerning the feasibility of a Digital Euro, the EU Commission connected a Central Bank Digital Currency wrong the portion is inactive accepting comments from manufacture experts connected the topic.
Patrick Hansen highlighted this information done the pursuing Tweet. Mr. Hansen is simply a crypto task advisor astatine Presight Capital and has connected galore occasions provided valuable insights connected the presumption of integer plus regularisation successful Europe.
If you don’t stock Christine Lagarde’s sentiment that the integer euro is the mode forward, you inactive person 3 weeks to rise your concerns successful the EU committee CBDC consultation – deadline June 14. https://t.co/p5eMF5ySo5
— Patrick Hansen (@paddi_hansen) May 22, 2022
The deadline to taxable statements connected the taxable of a Digital Euro is June 14th, and the pursuing individuals and entities are encouraged to taxable their sentiment connected the matter.
Payment manufacture specialists, outgo work providers (including recognition institutions, outgo and e-money institutions), outgo infrastructure providers, developers of outgo solutions, merchants, merchant associations, user associations, retail payments regulators, and supervisors, anti-money laundering (AML) supervisors, Financial Intelligence Units, and different applicable authorities and experts.
Concerning the entity of the consultation for a integer euro, the EU Commission tasked with the process explains that it is meant to ‘ to cod further accusation connected expected impacts connected cardinal industries (financial intermediation, outgo services, merchants), users (consumer associations, retailers’ associations), chambers of commerce and different stakeholders successful planetary trade.’
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