ECB to Decide Whether to Issue Digital Euro in 2023 The European Central Bank (ECB) has published a new report on the progress of its investigation into the possible launch of a digital euro. The research will continue next year with the regulator planning to make a decision whether to proceed to the realization of the project in the fall of 2023. ECB to Develop […]
ECB Hikes Interest Rates by 50bps; Signals Need for Further Hikes to Fight Inflation The European Central Bank (ECB) decided to hike three of its key interest rates by 50 basis points (0.5%) as part of its ongoing war against inflation. The organization stated that further increases are likely to happen “because inflation remains far too high and is projected to stay above the target for too long.” ECB […]
ECB official proposes ban on tokens with an 'excessive ecological footprint' Fabio Panetta, an executive board member of the European Central Bank (ECB), proposed banning crypto assets with a significant environmental impact as part of efforts to address risks. In written remarks for the Insight Summit at the London Business School on Dec. 7, Panetta said harmonizing taxation around crypto between global jurisdictions could address some […]
ECB Blog Post Insists This Is ‘Bitcoin’s Last Stand,’ Officials Claim BTC Is Headed Toward ‘Irrelevance’
ECB president reiterates calls for 'MiCA II' in response to FTX collapse Christine Lagarde, president of the European Central Bank, or ECB, has once again called regulation and supervision of crypto an “absolute necessity” for the EU in the wake of the collapse of crypto exchange FTX. At a Nov. 28 hearing of the Committee on Economic and Monetary Affairs of the European Parliament, Lagarde cited Facebook’s […]
Brussels to Put Out Digital Euro Law Shortly, ECB’s Lagarde Says The European Commission is going to present a legislative proposal for a digital euro in the near future, President of European Central Bank Christine Lagarde has indicated. EU legislators are expected to define the new currency’s legal tender status and determine its privacy features. EU Commission to Propose Legislation for Eurozone’s Digital Currency Authorities in […]
Queen Máxima of the Netherlands comes out in support of digital euro Máxima Zorreguieta Cerruti, Queen of the Netherlands, said she was encouraged by the work the European Central Bank had accomplished in its efforts to launch a digital euro. Speaking virtually at a European Commission conference ‘towards a legislative framework enabling a digital euro for citizens and for businesses’ on Nov. 7, the queen said a […]
FX Strategists From Citi Say Euro Could Sink to $0.86 if Macro Turmoil Continues While the euro has found support between 0.96 to 0.97 nominal U.S. dollars per unit, foreign exchange (FX) strategists from Citi believe the euro could tap a low of around $0.86 against the greenback. While the dollar slumped on October 13, the fiat currency is rising again and market strategists from Citi argue that the […]
ECB reports on digital euro validation, privacy one year into investigative phase The European Central Bank (ECB) Eurosystem digital euro project’s two-year investigative phase has reached its halfway point. The ECB published a progress report Sept. 29 that looked at design and policy issues that are under consideration or have been decided. The report said commerce in physical stores and online is the biggest use case for […]
Crypto startup to save iconic fiat money sculpture with 1M euros funding The paths of traditional finance and the cryptocurrency industry have intersected again, with a crypto startup coming to save the iconic Euro monument in Frankfurt. Frankfurt-based crypto startup Caiz Development will provide 1 million euros, or about $961,000, in funding over the next five years to rescue the famous Euro sculpture. Announcing the news on […]
California Governor Vetoes 'Premature' Crypto Bill, Russia to Use Digital Ruble w/ China by Next Year, a Debit Card Enables NFT Avatar Customization + More News California (USA) Governor Gavin Newsom. Source: a video screenshot, NBC Bay Area / YouTube Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________ Regulation news California (USA) Governor Gavin Newsom has vetoed a statewide bill that would have established a regulatory framework […]
ECB should have DLT wholesale settlements when the market wants it, official says The European Central Bank (ECB) needs a wholesale central bank digital currency (CBDC) because market players expect it, ECB executive board member Fabio Panetta told a banking symposium in Germany on Monday. Two options for wholesale CBDCs are currently under consideration. Wholesale CBDC is not a new concept, Panetta said. Eurosystem’s Target2 uses a centralized […]
ECB Chooses 5 Firms, including Amazon, to Build the Digital Euro Prototype According to a news statement on Friday, September 16, The European Central Bank (ECB) has chosen five businesses, including Amazon, to participate in a ‘prototyping’ exercise. These organizations were picked from a list of 54 potential innovators. What Exactly is the Digital Euro? The European Central Bank began the digital euro project in 2021 after […]
European Central Bank chooses Amazon and 4 other firms to prototype digital euro app The European Central Bank, or ECB, has announced it will be collaborating with five companies for the development of potential digital euro user interfaces. In a Friday announcement, the ECB said it had chosen 'Big Four' tech company Amazon, fintech firm Nexi, Spanish digital bank CaixaBank, French payments platform Worldline, and the European Payments Initiative, […]
Amazon and 4 Others to Work on Digital Euro Prototype, White House's 'Comprehensive Crypto Framework', Hong Kong's Scam Warning + More News Source: AdobeStock / Gnans Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________ CBDC news The European Central Bank (ECB) said it will collaborate with five companies to develop potential user interfaces for the digital euro: CaixaBank and Worldline will be working […]
Following Terra’s Lehman Moment, What’s Next for the Market? Source: AdobeStock / rottadana Adi Ben-Ari is the Founder and CEO of data security specialist Applied Blockchain. __________ The collapse of TerraUSD and Luna in May, and the associated tailspin in the crypto market, have prompted observers from both within the decentralized finance (DeFi) space and externally to ask the now very serious question – […]
Crypto Community Unimpressed as ECB President Pushes for Digital Euro with Privacy ‘of the Highest Standard’
Euro Reaches Parity Against the US Dollar, While the USD Index Taps a 20-Year High Eight days ago, the euro tapped a record low against the U.S. dollar as it hit $1.028 per unit against the USD last Tuesday. This week, the official currency for 19 of the European Union’s member states reached parity against the U.S. dollar for the first time in 20 years. Euro Hits Parity Against the […]
ECB Recommends Urgent Stablecoin Regulation in Light of UST’s Collapse Summary: The European Central Bank has recommended urgent stablecoin regulation, citing UST’s recent collapse and losses faced by its holders. The ECB also states that algorithmic stablecoins should be treated as unbacked crypto assets due to their risks. The ECB recommends using the recently passed MiCA bill and the Financial Stability Board recommendations as a […]
Euro Drops to 20-Year Low Against the US Dollar, Tapping $1.028 per Unit — Analyst Says Parity Is Imminent
eBay's NFTs, Yield on Ledger, Axie Infinity's Ronin Bridge Reopens, Celebrity Crypto Scams + More News Source: iStock/JasonDoiy Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. __________ NFTs news Ecommerce giant eBay submitted two new trademark applications to the US Patent and Trademark Office (USPTO) on June 23, indicating plans related to NFTs, including exchanges, marketplaces, and […]
CBDCs ‘An Investment’ to Protect the Fiat System, Cash Will Disappear, Swedish Central Banker Says Cecilia Skingsley. Source: riksbank.se A central bank digital currency (CBDC) is “an investment” to protect the current fiat monetary system, according to a central banker from Sweden, who also argued that cash will soon be history. Speaking at the European Central Bank’s (ECB) Forum on Central Banking in Portugal on Tuesday, Cecilia Skingsley, First Deputy […]
ECB Considers Capping Digital Euro in Circulation at 4,000 per Capita, Panetta Reveals With concerns about financial stability in mind, the European Central Bank (ECB) plans to limit digital euro holdings, according to Board Member Fabio Panetta. The plan is to have a maximum amount of digital cash in circulation similar to that of euro banknotes today, the official unveiled. Eurozone’s Central Bank to Keep Total Digital Euro […]
