ECB Gets New Powers From EU Over Climate, Crypto Bank Risks
The European Union is strengthening the role of the European Central Bank in supervising digital assets and climate risks inside the banking industry. This action is a result of the banking industry’s exposure to a wider range of risks, particularly those related to climate change and the developing field of digital assets. The ECB’s duties […]
European central banks ramp up effort to utilize DLT
Central banks in Europe are stepping up their efforts to use distributed ledger technology (DLT), the underlying technology of blockchain, in central bank money settlements. The central banks of Italy and Germany, Banca d’Italia and Deutsche Bundesbank, have teamed up to work on DLT-based asset exchange settlements in central bank money. The major purpose of […]
European central bank President says stablecoins are assets, not currencies
European central bank (ECB) President Christine Lagarde says although stablecoins appear to be used in various transactions they are not currencies rather should be regarded as assets. All cryptocurrencies, including stablecoins and speculative assets, “are not currencies at all,” according to Christine Lagarde, president of the European Central Bank. In an interview with World Economic […]
An “Investigation Phase” has been approved For the European Central Bank’s CBDC
Central banks around the world are moving for a digital currency, the European Central bank as part of this development has approved an investigative phase for its own central bank digital currency (CBDC). By approving an investigative phase, the European Central Bank (ECB) has taken a significant step toward the launch of its sovereign digital […]