Christine Lagarde, the President of the European Central Bank (ECB) has once again espoused a bullish position on a possible digital Euro while warning about the potential risks of private stablecoins. Several nations, including China, are developing central bank digital currencies (CBDCs) with the consensus among mainstream finance experts being that sovereign digital currencies are better than decentralized cryptos from a regulatory standpoint.
In a Nov. 30 article for the L’ENA hors les murs magazine, the ECB chief offered an exhaustive commentary on the future of money while highlighting the need for innovation to not erode the principles of trust. Commenting on the role and place of a digital Euro against the backdrop of COVID-19 and a possible decline in cash usage, Lagarde identified a European CBDC as a necessary instrument of the region maintaining a presence in the emerging digital economy.
As we enter the digital age, the nature of money is changing, I explain in @AnciensENA. The ECB must ensure that payments in the euro area remain innovative and highly trusted by all Europeans https://t.co/fY7w5EJBaH pic.twitter.com/M5k7y3OCxU
— Christine Lagarde (@Lagarde) November 30, 2020
Read more: https://btcmanager.com/ecb-president-digital-euro-private-stablecoins/