• ECB questionnaire digital euro
    Europe

    What the ECB’s questionnaire on the digital euro asks—and what it means

    Modern Consensus took the European Central Bank’s new digital euro questionnaire to see what it reveals about regulators’ concerns with what would be the biggest currency change since the euro

    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.

  • stablecoin bank runs
    Europe,  Regulation

    ECB fears stablecoin ‘bank runs’

    According to the European Central Bank, a panicked “stablecoin run’ could cause damage that spreads into the traditional banking and financial system

    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.

  • Lagarde digital euro Libra
    Cryptocurrencies,  Politics

    ECB President: Digital euro won’t replace cash, might make room for Libra

    European Central Bank President Christine Lagarde may have left the door open for the Facebook-founded stablecoin, saying that a digital euro could compete with private digital currencies

    In the biggest hint yet that the ECB is open to the idea of welcoming a project like Libra—subject to regulatory compliance, of course—Lagarde said a digital euro “could provide an alternative to private digital currencies and ensure that sovereign money remains at the core of European payment systems.

  • Blockchain break EU privacy law
    Regulation

    Blockchain may break EU privacy law—and it could get messy

    In Europe, citizens have the right to be forgotten by search engines, but this isn’t very compatible with blockchain’s uneditable nature

    This doesn’t necessarily mean that damaging news articles about someone (or their embarrassing photos) would be deleted forever, but a person may be entitled to have Google search results and Wikipedia references that link to them expunged—the equivalent of removing a book from a library’s index system. Now, someone would only be able to see this content if they knew exactly where to look.

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