Private payment services can gain a monopoly with no benefit to other market players or economic stability, ECB board member Fabio Panetta said.
ECB News
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Banco de España Deputy Gov. Margarita Delgado voiced concern about financial stability issues but painted a rosy picture for nonbank financial service providers.
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According to Fabio Panetta, crypto volatility and aspects of blockchain technology made digital assets only suitable for gambling.
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François Villeroy de Galhau tried to soft sell the proposed euro CBDC to commercial bankers, emphasizing collaboration and the CBDC’s advantages.
13109 - Market Analysis
BTC’s price recovered quickly from this week’s swing low, but derivatives data hints that a challenging road lies ahead.
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The European Central Bank exercise looked at a variety of use cases, most of which were quite satisfactory, as well as the use of self-custodied wallets.
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The Bank for International Settlements has published the fifth paper by the group, highlighting its latest thinking on a potential retail CBDC.
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The digital euro, if it is created, will be available to Eurozone users first through familiar onboarding procedures.
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A European economist has found that a digital euro would be a problem without a solution; just wait and see, he suggested.
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The ECB president admitted that “there will be control” in regards to a digital euro, much to the displeasure of the crypto community.
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“We need to put more thought into imagining what international coordination will look like and how it can be effective in regulating the crypto world,” said Elizabeth McCaul.
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The EBF calls itself the voice of the European banking sector; it expressed its support for European digital money, with suggestions of its own.
6351 - Market Update
Bitcoin price is up nearly 20% in days as Wall Street opens to multiple bank stocks halted due to extreme losses.
36297 - News
Montenegro’s prime minister announced a central bank “digital currency or stablecoin” project with Ripple; the Balkan country currently uses the euro instead of its own national currency.
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The Eurogroup confirmed its support for digital euro research and noted that some of the design and use elements under consideration would require political decision making.
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