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No bitcoin, but central-issued stablecoins, according to Lagarde and European Central Bank



The European Central Bank (ECB) wants to make more and better efforts in the field of digital currency. They are ambitious because Lagarde has stated that it wants to lead the way when it comes to stablecoins.



14.Dec.19 8:18 PM
By Shawn Highstraw
Photo toinnov.com

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No bitcoin, but central-issued stablecoins, according to Lagarde and European Central Bank
The European Central Bank (ECB) wants to make more and better efforts in the field of digital currency. They are ambitious because Lagarde has stated that it wants to lead the way when it comes to stablecoins. Specialy, because she said this during her first major press conference.

Lagarde emphasizes the increased attention of fellow central banks from Canada, Great Britain and other countries in digital currencies. She urges the ECB to take the lead in the development of stablecoins. In its view, the ECB intends to set clear objectives for the digital currency task force for central banks, or CBDCs, by mid-2020.

"My personal conviction is that, given the developments, not so much in bitcoin but in stablecoin projects, and we know only one at the moment, but there are currently others under investigation and on the way," said Lagarde.

“We can better anticipate the curve if that happens. Because there is a clear question to which we must respond. "

With stablecoins, Lagarde is referring to digital currencies that are always worth as much as a specific fiat currency. In this case you can start from the euro. Historically it was proven a highly centralized and risky type of assets.

It has been discussed for some time whether the ECB should issue its own digital currency or not. The predicted benefits of having your own digital euro is that regular citizens and businesses can also enjoy a cheap and easy way to make payments. But there has been a lot of resistance from EU authorities.



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