ECB Financial News

Progress continues on the creation of a digital euro, and the European Central Bank (ECB) has documented it in a second progress report that described design and distribution options recently approved by its governing council. The report considered four crucial issues, roughly in keeping with the timeline the ECB set for itself that tentatively culminates in a decision on whether to transition from the investigation to the realization phase of work in Q3 2023.

Fabio Panetta, an executive board member of the European Central Bank (ECB), proposed banning crypto assets with a significant environmental impact as part of efforts to address risks.

Crypto assets are here to stay so their regulation is urgently needed to protect investors and the stability of the global financial landscape, European Central Bank board member Fabio Panetta said on Wednesday.

Bitcoin (BTC) will soon embark on “a journey to irrelevance,” and is mostly used for illegal purposes, the European Central Bank (ECB) has claimed. But according to one on-chain expert, the claim does not hold water.

The total cryptocurrency market capitalization gained 2% in the past seven days, reaching $850 billion. Even with the positive movement and the ascending channel that was initiated on Nov. 20, the overall sentiment remains bearish and year-to-date losses amount to 63.5%.

Christine Lagarde, president of the European Central Bank, or ECB, has once again called regulation and supervision of crypto an “absolute necessity” for the EU in the wake of the collapse of crypto exchange FTX.

Máxima Zorreguieta Cerruti, Queen of the Netherlands, said she was encouraged by the work the European Central Bank had accomplished in its efforts to launch a digital euro. 

The European Central Bank (ECB) Eurosystem digital euro project’s two-year investigative phase has reached its halfway point. The ECB published a progress report Sept. 29 that looked at design and policy issues that are under consideration or have been decided.

The European Central Bank (ECB) needs a wholesale central bank digital currency (CBDC) because market players expect it, ECB executive board member Fabio Panetta told a banking symposium in Germany on Monday. Two options for wholesale CBDCs are currently under consideration. 

In a novel address at the University of California Berkley published on Wednesday, Olli Rehn, governor of the Bank of Finland, touted the possibility of a digital euro centralized bank digital currency (CBDC) functioning in tandem with private fintech solutions to facilitate the cross-border payment of services across Europe.

Last week, the United States Federal Reserve Board turned its eye to banks and crypto, making (or promising to make) several clarifications, one of them pretty long-awaited. It announced that the final version of guidelines for reserve banks to access Reserve Bank master accounts and services is ready. 

The European Central Bank (ECB) says the introduction of digital cash in the form of central bank digital currencies (CBDCs) appears to be the "only solution" that will guarantee a "smooth continuation" of the current monetary system. 

The European Central Bank, or ECB, laid the foundation for the criteria it would be considering when harmonizing the licensing requirements for crypto in Europe.

On Thursday, the European Central Bank (ECB) raised interest rates in the eurozone for the first time in 11 years, as high and rising inflation becomes central bankers’ primary concern. (This is a developing story and is being constantly updated.)

The first phase of experiments with a wholesale digital euro has been completed, and Phase 2 experiments will begin this year, Banque de France governor François Villeroy de Galhau said Tuesday. Four or five new experiments are expected to be launched. 

The European Central Bank (ECB) has released a report analyzing the growth of the cryptocurrency market over the past decade and the risks it poses to the existing financial system.

The European Central Bank, or ECB, will reportedly be preparing to implement a new law by warning European Union member states about the necessity of harmonizing regulations for crypto.

Bitcoin (BTC) has been trying to break out of a descending trend for the past week and the first attempt on June 16 failed to break the $22,600 resistance. The second attempt at $21,400 on June 21 was followed by an 8% price correction. After two failed breakouts, the price currently trades below $20,000 and raises questions on whether $17,600 was really the bottom.

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.

Cryptocurrencies will pose a risk to financial stability if the emerging sector maintains its rapid growth of the last two years and financial firms deepen their involvement, the European Central Bank (ECB) said on Tuesday. The crypto market slumped sharply this month after the downfall of major «stablecoin» terraUSD. The crash has led to calls from the world's top financial leaders for «swift and comprehensive» regulation of the sector. Cryptocurrencies — historically a niche asset favoured by risk-hungry investors, exploded in size during the COVID-19 pandemic. Institutional investors especially were drawn by claims that bitcoin acts as a hedge against inflation and offers high returns in the face of low interest rates.

Fabio Panetta, an executive board member of the European Central Bank, or ECB, has said that a digital euro could come within four years, potentially designed with a person-to-person payment solution.