2023-10-25 21:48 |
The European Central Bank emphasizes that the digital euro will modernize and future-proof the pan-European financial ecosystem.
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"Bitcoin has failed on the promise to be a global decentralised digital currency and is still hardly used for legitimate transfers. The latest approval of an ETF doesn’t change the fact that Bitcoin is not suitable as means of payment or as an investment," two ECB officials wrote in a blog post.
European Central Bank chief Christine Lagarde reportedly said her son ignored warnings against crypto investments and lost “about 60%” of his money.
The central banker said she wanted to address “conspiracy theories” about government snooping
Private payment services can gain a monopoly over services with no benefit to other market players or economic stability, ECB board member Fabio Panetta said.
According to Fabio Panetta, crypto volatility and aspects of blockchain technology made digital assets only suitable for gambling.
A European Central Bank’s (ECB) executive board member, Fabio Panetta, set a deadline of three to four years for the launch of the digital euro on the bank’s 25th anniversary. Panetta told Les Echos in an interview that 50 people…