Tagged: ecb

President of European Central Bank Nixes Digital Currency for Estonia, “Currency of Eurozone is Euro”

The president of the European Central Bank, Mario Draghi, has proscribed Estonia’s plan to issue a state-managed digital currency (or Central Bank Digital Currency – CBDC): “I will comment on the Estonian decision: no member state can introduce its own currency…The currency of the euro… Read More

Lagarde Calls for Careful Regulating of Fintech, Crypto Sectors in ECB Campaign Speech

Outgoing IMF Managing Director Christine Lagarde has called for the careful regulation of cryptocurrencies and the Fintech sector in a campaign speech she made before the Economic and Monetary Affairs Committee of the European Parliament this week. Lagarde has been nominated to lead the European Central Bank… Read More

European Central Bank Official Calls Facebook’s Libra “Treacherous” and “Cartel-Like”

Private money on the scale of Facebook’s Libra is dangerous and likely contrary to the public good, Yves Mersch, Executive Board Member of the ECB told the ESCB Legal Conference in Frankfurt September 2nd: “In the field of money, history bears testament to two basic truths…. Read More

European Central Bank Seeking to Close Gaps on Crypto Network Monitoring

The European Central Bank (ECB) says it is working to close gaps in its crypto-network monitoring regime in order to ensure that risks, “currently contained and/or manageable,” do not, “increase over time and have future implications,” for mainstream financial systems. “Spillover effects may…be transmitted to… Read More

Mario Draghi: Euro Cryptocurrency Not a “Concrete Option” for in Near Term, Cash “Remains Popular”

Costs presently outweigh benefits, and so the European Central Bank (ECB), “has no plans to issue a central bank digital currency,” at this time, though it is investigating the matter, says ECB president, Mario Draghi. Draghi made the comments in a September 12th letter responding… Read More

ECB Board Member: “Virtual Currencies are Not Money, nor Will they be for the Foreseeable Future.”

Earlier today, Yves Mersch, Member of the Executive Board of the European Central Bank, spoke at a forum in London. Mersch addressed the topic du jour: cryptocurrencies and the future of virtual money in the digital age. Mersch posed the question as to whether or… Read More

Mario Draghi: Cryptocurrencies Do Not Constitute a Risk for Central Banks (Yet), But Blockchain is of Interest

Speaking in Brussels last week, Mario Draghi, President of the European Central Bank (ECB), addressed the topic of digital currencies. Siegfried Mureşan (PPE), speaking on behalf of Tom Vandenkendelaere who was unable to attend the meeting, posed this question to Draghi regarding the emergence of cryptocurrencies; “Over… Read More

European Central Bank Publishes Guide for Fintech Bank Applications

The European Central Bank (ECB) has published a “Guide to assessments of Fintech credit institution licence applications.” The purpose of the Guide is described as seeking to enhance transparency for potential Fintech bank applicants and increase their understanding of the procedures and criteria applied by… Read More

Mario Draghi, President of ECB, Talks Fintech & Blockchain at European Parliament

During a hearing of the Committee on Economic and Monetary Affairs of the European Parliament, Mario Draghi, President of the European Central Bank, addressed the hot topics of Fintech and Blockchain technology (Distributed Ledger Technology or DLT). In prepared remarks, Draghi spoke about the economic… Read More

Digital Only Bank Number26 Receives Banking License from BaFin & ECB

One day, in the not so distant future, taking trips to the local bank branch will be a thing of the past. No more queuing up to be scowled at while swiping a plastic card. Yes, I know. My parents and your parents cannot imagine… Read More

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