ECB’s Lagarde Has ‘Hunch’ Digital Euro Will Launch in 2-4 Years
ECB President Christine Lagarde says the impetus for a central bank digital currency could come from the need to facilitate cross-border finance.
The digital euro project may get underway in mid-2021 after a period of review.
In a speech at a Reuters online event Wednesday, Lagarde said bitcoin was a "highly speculative" asset.
The ECB believes it should have the final say ahead of any proposed stablecoin launches.
MassMutual's push into bitcoin shows increasing adoption – of the narrative the cryptocurrency can work as a hedge against central-bank money printing.
Stablecoins could "threaten financial security" if widely adopted, the ECB head said in a magazine interview.
After another failure above the $10,000 mark, some bitcoin traders are now looking ahead to this week's European Central Bank meeting, where authorities could commit to an extra €500 billion in money injections – er, asset purchases.