Cryptocurrency

Christine Lagarde: “a decision will soon be made on the issue of a European digital currency”

The head of the European Central Bank Christine Lagarde said that the final decision on the possibility of launching a digital currency for the Eurozone countries will soon be made.

Launching such an initiative will help the European Union stay “at the forefront of technology” in the field of digital currencies and global changes in payment systems, says Lagarde. New technologies will help improve the efficiency of financial transactions, but they also carry certain risks:

“The Eurozone has not yet decided whether to introduce the digital euro. But like most other central banks around the world, we study the benefits, risks and operational challenges associated with this. The report of the ECB working group on this issue will be presented to the public in the coming weeks, after which public discussions will be held, ”said the ECB President.

Lagarde also noted that foreign payment service providers dominate Europe, and this is not a problem. But the “changing global context” and “growing protectionist sentiment” present new risks of disrupting financial flows.

“We must ensure that our citizens have a choice and they cannot be excluded from the payment system by someone’s unilateral decision,” concluded Lagarde.

In May, ECB Deputy Chairman of the Executive Council Yves Mersch said the organization is exploring the possibilities of a state cryptocurrency that can be used by retail consumers.

About author

Experienced Founder with a demonstrated history of working in the newspapers industry. Skilled in Data Research, Management, Investment Research, Teamwork, and Leadership. Influencing the technology, people, and technical analysis of the Cryptocurrency and Blockchain world.
Related posts
CryptocurrencyExchanges

PayPal Customers Are Now Allowed To Use Cryptocurrency To Make Payments To Merchants Worldwide

BitcoinCryptocurrencyEthereum

Bitcoin Recovers $56,000: ETH Recovers $1,700 (Observed Over The Weekend)

Cryptocurrency

Vladimir Putin: "we need to stop illegal transactions with digital assets"

CryptocurrencyExchanges

Coinbase exchange valued at $ 943 million in preparation for direct listing on Nasdaq

Sign up for our newsletter and stay informed

0 0 votes
Page Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments
USD
0
Would love your thoughts, please comment.x
()
x