ECB Paper Marks Success Factors for CBDCs, Digital Euro – Finance Bitcoin News

[ad_1] A paper published by the European Central Bank (ECB) discusses various conditions for successful implementation of central bank digital currencies (CBDCs) such as the eurozone’s own digital euro. The authors also point to different risks that such projects entail, like the danger of crowding out the private sector. ECB: Digital Euro Should Be Widely Used for Payments, Not Investment In order to create a successful CBDC, a monetary authority needs to establish the digital currency as a widespread means of payment and exchange that also has a sufficient store…

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WEF releases resource suite for CBDCs and stablecoins aimed at regulators and businesses leaders

[ad_1] The World Economic Forum, or WEF, has published a resource suite aimed at informing lawmakers and individuals in the private sector about digital assets including central bank digital currencies and stablecoins. On Friday, the WEF announced its Digital Currency Governance Consortium White Paper Series, a resource suite created by 85 organizations from 40 countries around the world. The publication contains eight separate white papers exploring topics such as the impact of lawmakers regulating stablecoins and central bank digital currencies, or CBDCs, as well as informing readers about their risks,…

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Edward Snowden Calls CBDCs ‘Cryptofascist Currency’ — ‘Closer to Being a Perversion of Cryptocurrency’ – Economics Bitcoin News

[ad_1] On October 9, whistleblower and privacy advocate Edward Snowden published an opinion editorial concerning central bank digital currencies (CBDCs) and claimed CBDCs are “the newest danger cresting the public horizon.” Snowden stressed that rather than being an innovation, CBDC’s are “closer to being a perversion of cryptocurrency” and a “cryptofascist currency.” Snowden Stresses CBDCs ‘Are Expressly Designed to Deny Its Users the Basic Ownership of Their Money’ While politicians and the modern banking cartel have been all about central bank digital currencies, a great number of critics believe they…

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