James Powell, backed by prominent financial regulators, highlights the need to enforce appropriate directives to deal with "issues" concerning DeFi before they snowball and create a big mess.
While commending efforts made to regulate digital currencies in the EU's MiCA bill, the head of the European Central Bank argued that a follow-up framework focusing on the two aspects of the market is already needed.
Christine Lagarde remarked that digital currencies are highly speculative and very risky assets, but backed that the central bank will be behind the digital euro.
Jürgen Schaaf said the test phase is still in trial for the technology and banks would experiment with digital currency to determine whether to roll out its central bank digital currency more widely.
One of the world’s most powerful central bankers, the European Central Bank's Christine Lagarde, confirmed that she was aware of 80 central banks currently looking at digital currencies.
ECB President Christine Lagarde set out the intricate decision making process involved for the bank in a Bloomberg interview, in which she indicated it may be 2025 before any digital currency would be ready.
This week, we look into the internet’s iconic personalities, the unending regulatory saga of BTC, and a new Bitcoin-powered mobile game that is reminiscent of the old but still gold “Flappy Bird.”
Christine Lagarde said the digital currency was increasingly being used by criminals worldwide to cover their tracks online, and for laundering money beneath the detection of the authorities.
Christine Lagarde already sees the financial sector reacting to blockchain technology, but she hopes the industry can embrace stability.
The fourteenth installment in a weekly column, A Power of Facing examines the International Monetary Fund’s continual warnings about the power of cryptocurrency.
The IMF message is clear: Fiat banks and financial institutions need to open their eyes and deal with cryptocurrency.