Federal Reserve, Bank of England, ECB, Bitcoin, CBDC, CBDCs, Digital Euro

European Central Bank President Christine Lagarde said she believes the region’s monetary authority will move to launch a digital version of the euro in the next two to four years.

“We might well go in that direction,†Lagarde said Thursday on a virtual panel with Federal Reserve Chair Jerome Powell and Bank of England Governor Andrew Bailey. “My hunch is that it will come.â€

ECB officials have previously disclosed they are conducting research into a central bank digital currency, and Bank of Finland Governor Olli Rehn told Reuters last month he believes a digital euro is “very likely†to debut in the next decade.

Read more: Bank of Spain to Weigh Digital Currency Design Proposals, ‘Implications’ Through 2021

Lagarde said a digital euro would take extensive time to develop, including not just the underlying technology but anti-money-laundering controls and prevention of terrorism financing. She noted that China’s central bank has been working on a digital version of its yuan for several years.

As reported by CoinDesk, China is already conducting trials of the digital yuan.

“If it is going to facilitate cross-border payments, we should explore it,†Lagarde said Thursday, though she does not expect paper money to disappear.

“A digital euro will not be a substitute for cash,†she said. “It will be a complement.â€

For his part, Fed Chair Powell reiterated the U.S. central bank is evaluating the merits of a digital dollar, but has not yet made a decision on creating a digital currency. The Fed is looking into the merits and possible technical solutions to a digital dollar, though it does not appear likely to launch one within the next few years.

Read more: Debate Rages on Whether a Digital Dollar Will Unleash Inflation

The Bank of England’s governor, meanwhile, said there may be privacy concerns for privately issued stablecoins, and CBDCs may be the “answer to that bar.†Bailey has said in the past he would like to see a global framework for regulating stablecoins.

Du lịch nhật bản, hướng dẫn du lịch Nhật và đánh giá địa điểm Nhật Bản Japan travel news, japan travel guides, japan holiday destinations and japan reviews

RELATED NEWS

Hong Kong to Connect Digital Yuan With Domestic Payments System in Cross-Border Trials

Financial authorities in Hong Kong have announced a second phase of trials for mainland China’s digital currency. As part of the upcoming tests, the city will link the Chinese digital yuan to its domestic payments system to evaluate the CBDC’s usability in cross-border scenarios. Hong Kong Residents to Load E-CNY Wallets via Mobile Phones China […]

Xem chi tiết: Hong Kong to Connect Digital Yuan With Domestic Payments System in Cross-Border Trials

Mystery Whale Returns by Moving $35 Million — Miner Transfers 1,000 ‘Sleeping Bitcoins’ from 2010

Two months after the mystery mining whale from 2010 transferred a string of 20 block rewards with 1,000 bitcoin on March 23, it seemed as though the entity was finished, after spending 10,000 bitcoin total. However, it took 78 days for the whale’s next move, as another 20 blocks from 2010 were transferred on Wednesday […]

Xem chi tiết: Mystery Whale Returns by Moving $35 Million — Miner Transfers 1,000 ‘Sleeping Bitcoins’ from 2010

Commodity Strategist Mike McGlone Says $40K BTC Target ‘More Likely’ Than $20K

Bloomberg Intelligence senior commodity strategist Mike McGlone believes bitcoin is “more likely†headed for $40K instead of $20K after discussing the possibility of capitulation in a recent tweet. McGlone’s opinion follows a number of predictions that say bitcoin could drop to the $20K zone if there’s more pullback in the cards. Bloomberg Commodity Strategist Suggests […]

Xem chi tiết: Commodity Strategist Mike McGlone Says $40K BTC Target ‘More Likely’ Than $20K

Crypto Payments App Bottlepay Is Now Available Across Europe

U.K.-based crypto payments provider Bottlepay has started offering services in other European countries. Users on the Old Continent will be able to send and receive even small amounts of euro and also buy, store and spend bitcoin with merchants accepting cryptocurrency. Bottlepay Promises Low-Cost Transactions in Euro and Bitcoin The Bottlepay app will allow Europeans […]

Xem chi tiết: Crypto Payments App Bottlepay Is Now Available Across Europe

Members of East Africa Community Explore Potential Use of CBDC for Alternative Regional Payment System

Six East African states are reportedly set to explore the possibility of using central bank digital currencies (CBDC) as an alternative to their shared payment system. The six countries, which are all members of the East Africa Community (EAC) trading bloc, are hoping this alternative will create a pathway that leads to the attainment of […]

Xem chi tiết: Members of East Africa Community Explore Potential Use of CBDC for Alternative Regional Payment System

Mike Novogratz: Bitcoin Investors Waiting for a New Narrative Shift

Mike Novogratz declared institutional investors are waiting for the next narrative shift in a recent interview at the Bitcoin 2021 conference in Miami. The CEO of Galaxy Digital thinks the market is now in a consolidation phase after the price crash last month. Novogratz also commented on what the rise of defi could mean for […]

Xem chi tiết: Mike Novogratz: Bitcoin Investors Waiting for a New Narrative Shift

NYAG Court Order to Shut Down Coinseed Succeeds, CEO Creates Profanity Token for Attorney General

The crypto trading platform Coinseed is shutting down operations according to a written statement from the company’s CEO Delgerdalai Davaasambuu. A court order secured by New York Attorney General Letitia James told Coinseed to halt all of its operations. Following the announcement of the shutdown, Coinseed’s CEO said he created an ERC20 token called “FLJ†[…]

Xem chi tiết: NYAG Court Order to Shut Down Coinseed Succeeds, CEO Creates Profanity Token for Attorney General

Deutsche Bank Warns: Ignoring Rising US Inflation Akin to ‘Sitting on a Time Bomb’

Deutsche Bank published a report Monday noting that the United States is facing “the very real specter of consumer-driven inflation.†The bank’s chief economist David Folkerts-Landau and others notably highlight the Federal Reserve’s monetary easing policy and recent tolerance toward higher inflation. Deutsche Report: ‘Transitory Inflation Could Feed Into ’70s Style Stagflation’ The price of […]

Xem chi tiết: Deutsche Bank Warns: Ignoring Rising US Inflation Akin to ‘Sitting on a Time Bomb’

Grand Theft Auto 6 to Feature a Fictional Cryptocurrency

Bitcoin Keys Cannot be Hacked: Skeptics Question the Official Colonial Pipeline Bitcoin Seizure Story

Alternative 401(k) Product Offers In-Plan Cryptocurrency Investment via Coinbase Institutional

El Salvador Offers No Capital Gains Tax, Permanent Residence to Crypto Entrepreneurs

White House Tech Advisor Tim Wu Keeps at Least $1 Million in Bitcoin

White House Tech Advisor Tim Wu Keeps at Least $1 Million in Bitcoin

Alternative 401(k) Product Offers In-Plan Cryptocurrency Investment via Coinbase Institutional

Scammers Pick Bank Transfers Over Cryptocurrency, Australian Report Reveals