Blockchain and Cryptocurrency: People, Culture and Tech
Sveriges Riksbank researchers argue that “all CBDC payments will involve reconciliation with one or more remote ledgers” that track the transactions and ownership to prevent double-spends. This requirement—according to the bank—should squash the hopes for a cash-like anonymous digital currency.
European Central Bank President Christine Lagarde has called for a global crackdown on the world’s biggest cryptocurrency—and said existing loopholes need to be closed. With the crypto markets surging in recent weeks, this serves as further evidence that central banks are scrutinizing BTC like never before.
The European Central Bank questionnaire is aimed at both the public and financial experts—in order to gauge their views on a digital euro as it considers launching a central bank digital currency that would be available alongside cash.
Specifically, the ECB said stablecoins are vulnerable to so-called liquidity “runs” if consumers fear that the token may lose its value. In such instances, the stablecoin may stop functioning normally and its redemption may not be possible in the usual way.
