• Mario Draghi, President, European Central Bank, Frankfurt during the special address session at the Annual Meeting 2013 of the World Economic Forum in Davos, Switzerland, January 25, 2013. . . Copyright by World Economic Forum. (via Wiki commons, swiss-image.ch/Photo Remy) Steinegger
    Cryptocurrencies

    Outgoing ECB president (somewhat) optimistic on stablecoins

    European Central Bank President Mario Draghi says crypto-assets are not yet ‘suitable substitutes for money’ but have potential

    The biggest obstacle to a European Central Bank-issued digital currency is not the technology, according to departing European Central Bank President Mario Draghi. Rather, he said, the “key issue is … its utility in terms of costs and benefits to the public.”

  • Europe's fiat money (via Pixabay).
    Europe

    EU banks must get speed up blockchain investment, warn Lagarde, Bain

    The consulting giant and likely European Central Bank president say blockchain FinTech is coming fast

    European banks must speed up their investments in blockchain technology in order to recapture their own capital markets from American financial institutions, global consulting firm Bain & Company warned in a report released on September 3. A day later, International Monetary Fund (IMF) chief Christine Lagarde told the European Parliament’s Economic and Monetary Affairs Committee that with bank profits low and FinTech firms gobbling up investments, EU central banks must welcome new technologies—including digital currencies—in order to remain competitive.

  • Not even a few hours after it was announced and there's already stock photos of Facebook's libra cryptocurrency (via Shutterstock).
    Europe,  Libra,  United States

    From Europe and America, Facebook’s Libra cryptocurrency faces suspicion

    The social media giant will also have a high regulatory hurdle to jump before launching the digital asset

    Less than 12 hours after it was announced, Facebook’s new libra cryptocurrency was already causing the kind of concern in European financial circles that even Bitcoin has not been able to generate.