The new ECB governor demonstrates its openness to cryptocurrencies and stablecoin

The new ECB governor demonstrates its openness to cryptocurrencies and stablecoin

By Roberto D. | CryptoFarm | 13 Dec 2019


When a few months ago Christine Lagarde was appointed to replace Mario Draghi at the ECB, we pointed out that this appointment would entail a radical change in the approach of the EU institutions to the blochchain technology; in the following weeks and months, however, a little of everything and want happened for the presentation of pounds (the currency to which it would be working facebook), either because of the numerous interventions of the various ministers of the economy and officials of the different countries that in more occasions have hurled themselves against cryptocurrencies, many have argued that assuming a radical change following the rise of the Lagarde ECB was quite naive. However, as was also obvious, it was only necessary to wait for the new governor to take office and take full control of the central bank for things to begin to change; we had the first sign of this U-turn U-turn yesterday when this declaration by Christine Lagarde began to circulate with a tweet of the official account of the central bank:

Note well that in the tweet we talk generically about stablecoin and not specifically about a digital euro or a CBDC, so the opening is not only towards a cryptographic currency guaranteed by the ECB but also towards the coins that can be defined as "private". Already a few months ago, even before the establishment at the ECB, Christine Lagarde showed that she had a more balanced and open approach than the European institutions since she argued that it was certainly necessary to pay great attention to the criticalities that cryptocurrencies bring with them, in first to the risk associated with money laundering, without forgetting privacy and the risks of negatively affecting financial stability, but also underlined the need to recognize the wider benefits that this new technology offers. That the wind is slowly changing in Europe is also demonstrated by the new German bill which provides banks with the possibility of offering custody services related to cryptocurrencies and, not least, authorizes them to sell these "products" directly to own customers. In short, at this point we can expect that, finally, even in Europe we begin to seriously discuss a regulation that is not punitive but aimed at allowing this new industry to grow and develop, so much so that I would not exclude that, within a couple of of years, the EU may be able to close the gap, at least in terms of regulation, which currently separates it from countries like the US and China.


Roberto D.
Roberto D.

Born in Italy, I live in Italy, passionate about cryptocurrencies since I discovered ethereum in 2015


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