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Cyprus has prepared its own legislation to regulate crypto assets and is likely to adopt it before Europe finalizes a common regulatory framework, a government official has indicated. The authorities in Nicosia welcome the “careful” use of cryptocurrencies, he added. Government of Cyprus to Submit ‘Attractive’ Crypto Bill Cyprus has an “enviable position” in the … Read more
Commenting on the recent market volatility, Fabio Panetta also said stablecoins were still “vulnerable to runs,” just as investing in cryptocurrencies carried certain risks. Go to Source Powered by WPeMatico
The ECB drops another working paper on the digital euro causing more outrage from Europeans opposing a central bank digital currency. Go to Source Powered by WPeMatico
The European Central Bank (ECB) leans toward a “transparent” digital euro over one that ensures a higher level of privacy for its users, a presentation devoted to the project has indicated. In the document, the monetary authority explores different privacy options for the eurozone’s digital fiat. User Anonymity Not Desirable for Digital Euro, ECB Says … Read more
Eurozone’s monetary authority, the Eurosystem, is looking to enlist financial companies willing to develop front-end solutions for the digital euro. The plan is to carry out a “prototyping exercise” this year to test transactions to the back-end developed by the regulator. Eurosystem to Select Front-End Providers for Digital Euro Project Within the ongoing investigation into … Read more
Up to five banks or other payment services providers will be selected to participate without compensation in the development of the digital euro front end. Go to Source Powered by WPeMatico
Comparing the rise of crypto assets to the gold rush, a top executive at the European Central Bank has urged governments to take action to prevent “a lawless frenzy of risk-taking.” Speaking in the U.S., the ECB official called for a global regulatory clampdown on cryptocurrencies and stepping up efforts to issue central bank digital … Read more
One of Fabio Panetta’s concerns seemed to be how the ECB and lawmakers address the taxation of cryptoassets, describing current requirements as “minimal.” Go to Source Powered by WPeMatico
Less than two weeks after the consultation process’ start, the prevalent mood in the comments section appears quite negative. Go to Source Powered by WPeMatico
After the inflation rate in the eurozone reached a high of 7.5% in March, the European Central Bank (ECB) and the bank’s president Christine Lagarde explained on Thursday the central bank’s bond purchases will cease in Q3. Reiterating what she said at a press conference in Cyprus two weeks ago, Lagarde stressed on Thursday that … Read more