An executive board member at the European Central Bank, Yves Mersch, discussed bitcoin and its characteristics during his speech at Cash Symposium 2014.
EBA raised its concerns over potential financial stress arising in NBFIs amid their indirect exposure to crypto firms and crypto markets.
DZ Bank’s current infrastructure makes it possible for the bank to take part in the exploratory phase of the ECB’s project testing the settlement of large-volume capital market transactions in central bank money.
Despite the varied economic performance across the 20-country common currency bloc, the challenges stemming from high inflation persist.
If successful, the project will further move to the next stage, closer to the issuance. The full rollout will be possible only after completing the European Union’s legislative process by the Governing Council.
The ECB lawmakers favored Cipollone’s candidacy to steer forward the agenda of a digital Euro to reinforce the public money infrastructure amid the mainstream adoption of digital assets.
Euro zone inflation has reduced to its lowest point in nearly 2 years after the European Central Bank hiked rates for the 10th time.
Central Banks around the world are grappling with the difficult task of managing excessive inflation while maintaining economic development.
High energy prices can have a cascading effect on other sectors of the economy, contributing to the overall rise in consumer prices.
The digital euro is expected to consider orderly adjustments in the financial sector while also offering payment service providers a platform for innovations.
IBM said that simplicity will play a crucial role in the initial adoption of Digital Euro, emphasizing that familiarity strengthens this process.