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.
Russian regulator blacklists Binance
As new Russian regulations loom, the leading cryptocurrency exchange is banned for distributing forbidden information, specifically instructions about how to acquire Bitcoin
Furthermore, Binance also claims that the firm has not been warned by law enforcement and government services before the blacklisting of its domain. So far, the company consulted with lawyers and announced that it will continue offering its services to Russia’s citizens.
Europe unveils plans to regulate cryptocurrencies. It’s good news and bad news
While the proposed measures will make it easier for crypto companies to operate across the EU, global stablecoin issuers are going to face ‘stringent requirements’
Under the new rules, a fintech company that obtains a license to operate in one EU nation will be able to provide services in the trading bloc’s 26 other member states automatically.
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.