ECB
Week in Review: BOE Hikes Interest Rate, ECB to Reduce Crisis-Era Stimulus, Only 10% of Bitcoin Left to Mine
Taking a look at this past week’s stories making waves in the cryptocurrency space: The Bank of England (BOE) delivering a surprise interest rate hike, the European Central Bank (ECB) announcing an end to the crisis-era asset purchase program, and bitcoin officially surpassing 90% of its available supply.
ECB Sounds Alarm Over Linkages Between Stablecoins and Conventional Financial Markets
The central bank said exotic market segments, such as crypto, remain subject to “speculative bouts of volatility.”
ECB Hires Former ING Director as Digital Euro Program Manager
Evelien Witlox starts in January and will work on the ECB’s investigation phase of the digital euro project.
ECB’s Panetta Says CBDCs ‘Likely’ to Be Legal Tender: Report
However, this status “should not be taken for granted.”
ECB’s Panetta Says Digital Euro Should Expand Overall Payment Solutions
For the central bank’s digital currency to be successful it should not be seen as competition for private payment solutions.
Big Tech-Issued Stablecoins Could ‘Amplify Shocks’ to Financial System, Says ECB Exec
CBDCs could therefore represent “an anchor of stability,” according to a member of the ECB’s executive board.
Italian Payments Giant Nexi Says It Is ‘Contributing’ to Design of Digital Euro
“We are starting to talk about a new version of cash,” Nexi’s CEO said. “That’s why we are engaging with the ECB.”
Digital Euro Isn’t Guaranteed After Experiment, ECB Advisor Says
The European bank’s two-year digital euro experiment will focus on a retail CBDC.
Bundesbank President Favors Limited Initial Role for Digital Euro
Jens Weidmann voiced concern that during crises consumers would hold all their money with the central bank, cutting off commercial banks’ funding.
BIS Signals Central Banks to Start Work on CBDCs
The head of the BIS Innovation Hub says central banks must retain the ability to uphold financial stability.
