The European Central Bank (ECB) has announced a major step towards the launch of its sovereign digital currency goals by approving an investigation phase. The investigation phase would be 2 years long and focus on researching various aspects of a central bank-issued digital currency. “We have decided to launch a project to prepare for possibly
Speaking to the Financial Times on Sunday, June 20, Fabio Panetta, an executive board member at the European Central Bank, admitted that having a Digital Euro is a must for the European Union to combat the “threats” from other cryptocurrencies. Panetta’s comments come just at a time when the global acceptance of cryptocurrencies is on
Bitcoin (BTC) remains a hot topic of discussion among top delegates and institutions of the world. The former U.S. Treasury Secretary Larry Summers has recently endorsed Bitcoin saying that it is here to stay. During an interview with the Bloomberg Wall Street Week, Summers said: “I think some institution, like Bitcoin (BTC), is here to stay.
Christine Lagarde, the current president of the European Central Bank (ECB), has once again spoken in favor of the Digital Euro. In her recent interview with the L’ENA hors les murs magazine, Lagarde speaks about the future of money and why digitization is the way ahead. As we enter the digital age, the nature of
The President of the European Central Bank [ECB] Christine Lagarde requested public views and opinions on a potential central bank digital currency [CBDC] for the eurozone. Describing 2020 as a “difficult year”, Lagarde stated that despite the extraordinary events of the coronavirus crisis, Europe was moving towards a new model for dealing with crises. Her
On Sunday, Deutsche Bank announced that it would soon make significant cutbacks to its investment bank unit. Reportedly, about 20000 employees could lose their jobs in their process. On Friday, 5th July, the head of Investment Banking, Garth Ritchie, also announced his departure from the firm. New York and London offices of the largest Germany’s business