Digital Euro

After the election in December 2019, the British Parliament decided to ratify the withdrawal from the European Union. Factors influencing Brexit included immigration, sovereignty, and anti-establishment politics. Could Brexit have influenced the development of the digital Euro? Read on to find out as we break down factors that led to the development of digital currency. The Growth of Digital Assets The concept of digital assets is not novel; its penetration and influence have left no stone unturned. The 2008 Global Financial crisis…

A financial report published today by the European Central Bank (ECB) claims that cryptocurrency assets pose significant financial risks. The report written by ECB President Christine Lagarde focused on the future of money within the European Union. Lagarde highlighted the historical value of money from early times when physical commodities backed money to the current fiat monetary system. She acknowledged that the current technological innovation means that the financial landscape is moving towards digitalization. This trend was further accelerated by…

The President of the European Central Bank (ECB), Christine Lagarde, has stated that the regional Bank is considering launching a Digital Euro. This, according to her, is due to the immense growth and development in the digital ecosystem. In a series of tweets, Lagarde revealed the European Central Bank's achievements over the past 12 months. This included the launch of the European Central Bank Strategy Review (ECBStrategyReview). She also spoke on her viewpoint on climate change and the news to…

We are ready to work on the establishment of a European central bank digital currency, says the Italian Banking Association (ABI). The ABI announced its willingness to support the implementation of a digital currency from the European Central Bank. The association’s website noted the approval of guidelines governing its position on digital currency and central bank digital currencies (CBDCs) on June 18. The ABI, which represents a group of banks in Italy, said it was ready to take part in projects and…

The Dutch central bank claims readiness for the development and trial of a digital Euro. According to the apex bank, it is willing to lead the development of a Europe-wide digital currency. On April 21, the central bank released a 45-page report which stated its readiness to lead the research and development of a digital currency for the Netherlands and Europe. The report also stated that the central bank is interested in becoming a proving ground for central bank digital currencies in…