Binance CEO Sees No Threat to Crypto From Central Bank Digital Currencies — S...
The CEO of cryptocurrency exchange Binance does not see central bank digital currencies (CBDCs) as a threat to cryptocurrencies, like bitcoin and ether. “It will validate the blockchain concept so that anybody who still has concerns about the technology will say: ‘Ok, our government is using the technology now,'” he opined. CZ Sees No Threat to Crypto Coming From CBDCs Binance CEO Changpeng Zhao (CZ) said Wednesday that he believes central bank digital currencies (CBDCs) are not a threat to cryptocurrencies, like bitcoin (BTC) and ether (ETH), Reuters....
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Binance CEO Changpeng "CZ" Zhao says there is room for CBDCs and crypto, and that he didn't see it as a threat to his company or the sector. Binance CEO Changpeng "CZ" Zhao appears to have softened his stance on central bank digital currencies (CBDCs), arguing in a conference that he doesn’t think CBDCs are a threat to his company or the crypto sector. CZ spoke at the Web Summit in Lisbon on Nov. 2 about CBDCs and their role in the crypto industry.The Binance boss said that CBDCs would validate blockchain technology and build trust among those with concerns about the technology,....
Major investment bank Morgan Stanley believes that central bank digital currencies are not a threat to the existence of cryptocurrencies. The bank believes that both types of digital currencies can coexist because they serve different purposes and have different appeals. Cryptocurrencies and CBDCs Can Coexist Morgan Stanley’s analysts, including chief economist Chetan Ahya, discussed the impact of central bank digital currencies (CBDCs) on bitcoin and other cryptocurrencies in a report published last week. They wrote: Cryptocurrencies will still exist, as they continue to serve other....
Denmark’s central bank governor Lars Rohde says that he can be tempted to ignore cryptocurrency, stating that it is not a threat to the central bank at present. However, he pointed out that the real threat could come from big technology companies “invading the currency area or the transaction means.” Denmark’s Central Bank Governor Tempted to Ignore Cryptocurrency Danish central bank governor Lars Rohde discussed cryptocurrencies on Bloomberg from Copenhagen on Wednesday. He was asked whether the central bank sees the rise in cryptocurrency trading as a serious....
Soros Fund Management’s chief investment officer (CIO) says that central bank digital currencies are a potential threat to bitcoin and other cryptocurrencies but it will only be temporary. She also says that bitcoin is taking some of gold’s buyer base away. Crypto’s ‘Inflection Point’ Soros Fund Management Chief Investment Officer (CIO) Dawn Fitzpatrick talked about bitcoin and the impact central bank digital currencies (CBDCs) could have on the crypto industry in an interview on Bloomberg’s Front Row last week. She said: We think the whole....
The European Central Bank (ECB) has proposed a directive of the European Parliament and of the Council stating that ‘virtual currencies do not qualify as currencies from a Union perspective,’ and wants digital currencies to be explicitly defined as not legal currencies or money. In a document titled, Opinion of the European Central Bank [PDF], the ECB is proposing amending Directive (EU) 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing and amending Directive 2009/101/EC. According to the ECB, the use of digital....