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.
European Central Bank President Christine Lagarde said a digital euro can place the region at the cutting edge of innovation but it may have fallen behind in the global competition for creating digital payment ecosystems.
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.