ECB may cap digital euro at 1.5T tokens — Executive board member
"Keeping total digital euro holdings between one trillion and one and a half trillion euro would avoid negative effects for the financial system,” said Fabio Panetta. Fabio Panetta, an executive board member of the European Central Bank, or ECB, proposed the central bank limit the total holdings of a digital euro in an effort to prevent the digital currency from being used as a form of investment.In a Wednesday speech for the Committee on Economic and Monetary Affairs of the European Parliament, Panetta hinted the ECB could cap the number of digital euros between 1 and 1.5 trillion tokens.....
Related News
With concerns about financial stability in mind, the European Central Bank (ECB) plans to limit digital euro holdings, according to Board Member Fabio Panetta. The plan is to have a maximum amount of digital cash in circulation similar to that of euro banknotes today, the official unveiled.
Eurozone’s Central Bank to Keep Total Digital Euro Holdings Below 1.5 Trillion
A digital euro could potentially lead to the conversion of a large share of bank deposits in the euro area into digital cash, Member of ECB’s Executive Board Fabio Panetta warned in a statement at the....
The ECB weights in favor of incorporating a digital euro. The vision’s details were shared by Fabio Panetta, a member of the executive board of the European Central Bank (ECB). The possibility of a European CBDC for retail payments started being discussed at the beginning of the year by the central bank and was put […]
An executive member at the European Central Bank says a digital euro could protect the Eurozone's monetary sovereignty from outside influence.
Unlike private companies, the ECB has “no commercial interest” in monetizing users’ data, the ECB executive board member argued. European Central Bank (ECB) executive board member, Fabio Panetta, has argued that a digital euro offers superior privacy protections than privately issued stablecoins.Panetta criticized the profit motive of private firms, emphasizing it is in their commercial interests to harvest masses of data on their users.“We are not like private companies,” the board member told Financial Times. “We have no commercial interest in storing, managing, or monetizing the data of....
The European Central Bank is engaged in “experimental work” on blockchain technology. As some banks have warned, the technology is still too new to know what real world uses it has. But, according to an ECB executive board member on Monday, the central bank is researching how the technology could apply to modern financial systems. Member of the Executive Board of the ECB, Yves Merch, confirmed the ECB is investigating blockchain technology and how it could be adopted by the euro zone’s central banks. “From a central bank perspective, in the context of our strategic reflections on the....