October 1, 2022

European Central Bank wants to be one step ahead of stablecoins

European Central Bank wants to be one step ahead of stablecoins

European Central Bank President Christine Lagarde said that on the issue of stablecoins, a financial institution should take the initiative in its own hands and get ahead of the demand curve for them.

During the press conference, she emphasizedthe increased interest of central banks in Canada, the UK and several other countries in digital currencies. According to her, in addition to the stablecoin projects known to us, there are others that are currently being studied and are at various stages of implementation.

According to Christine Lagarde, in this matter should go one step further and respond to immediate needs. She also said that the ECB plans to draw up a clear plan for its target group on digital currency by mid-2020.

The issue of issuing a digital euro has already been raised earlier, but so far has met resistance from the European authorities.

The opinion of the new head of the ECB is radically different about its predecessor, Mario Draghi, who is confident that stablecoins and crypto assets are not suitable for replacing money.