Crypto a ‘wake-up call’ for central banks
Digital economy needs CBDC as risk-free asset, say panellists at ECB’s Sintra conference
Digital finance is “in many cases used as a marketing tool to promote speculative assets”, the European Central Bank’s Fabio Panetta said in his opening remarks as chair of a panel on the digital euro.
Purchasers of crypto are subject to herd behaviour, and many understand little about what they’re buying, the ECB executive board member continued.
However, the discussion today (June 28) on central bank digital currency (CBDC) may owe its origin to decentralised finance. Members of the panel
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