Bitcoin veteran Tuur Demeester says a new European Central Bank (ECB) paper on BTC is a “declaration of war” on the top crypto asset. In new research, the ECB claims that BTC has strayed away from the original vision of Satoshi Nakamoto, its pseudonymous creator, and now exists to extract value from latecomers and non-holders. […]
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European sanctions against Russia are impacting small European exporters, particularly in Italy, more severely than Russia itself, according to Ferdinando Pelazzo, president of the Italian-Russian Chamber of Commerce. Small and medium-sized enterprises (SMEs) are struggling with disrupted payment systems and logistical challenges due to the sanctions. Italian businesses heavily reliant on Russian markets now face […]
The European Central Bank (ECB) is asking the public to advocate for laws against Bitcoin (BTC), claiming that every time the crypto king rallies, it financially drains the rest of society. In a new research paper, the ECB says that the top crypto asset by market cap has strayed away from the original vision of […]
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Bitcoin’s rise is enriching early adopters at the expense of society, according to a paper by European Central Bank (ECB) economists. They argued that bitcoin’s speculative growth leads to wealth redistribution, where early investors gain while non-holders and latecomers are left poorer. Economists warn this dynamic could harm societal stability, deepening inequality and threatening democracy […]
Bitcoin could reach six figures sooner than expected, driven by surging institutional flows into exchange-traded funds (ETFs), economic instability, and the U.S. presidential election, according to the chief investment officer of asset management firm Bitwise. The executive highlights factors like growing GOP support for cryptocurrencies and inflation concerns pushing investors toward BTC. With regulatory clarity […]
Since its introduction in 1999, the euro has lost approximately 85% of its value against gold due to monetary inflation.
A recent paper published by the European Central Bank on Oct. 12, 2024, claimed that older Bitcoin (BTC) holders profit at the expense of newer holders and argued that the scarce decentralized currency should be regulated to prevent its price from rising or outright banned.
The authors said that those who acquired BTC at an earlier date, or those who bought at market bottoms, and sold to new investors at a profit were exploiting the newer buyers. This is, of course, how all financial markets work — investors aim to buy assets low and sell high.
From this foundation, the authors concluded that Bitcoin should face strict price controls to prevent exploitation and the ensuing civil strife from this unfair wealth distribution:
An executive board member of the European Central Bank (ECB) says that regulators will play a pivotal role in creating a new capital market for digital assets. In a speech at an event in Frankfurt, Germany, Piero Cipollone says that new digital asset technologies hold promise in improving financial integration in Europe that is being […]
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A recent study part of the European Central Bank (ECB) working paper series has concluded that stablecoins are susceptible to shocks derived from U.S. monetary policy changes. Contractionary shocks make stablecoins react negatively, being even more relevant than traditional crypto shocks to stablecoins, while money market funds (MMFs) thrive. ECB Paper: Stablecoins Are Susceptible to […]
European Central Bank executive board member Piero Cipollone would like to see a sort of European union for digital assets.
A European Central Bank (ECB) official has introduced the idea of a “European ledger” — a continental unified ledger. Such a blockchain could bring European digital assets and money together in one place, leading to greater efficiency and synergy.
ECB executive board member Piero Cipollone said Europe’s traditional capital markets are fragmented and have unharmonized legislation to overcome, but there is a chance to create a unified platform for digital assets. He called that platform a digital capital markets union.
According to Cipollone, more than 60% of banks in the European Union are exploring or experimenting with distributed ledger technology (DLT), and another 22% already use it. But while DLT provides an opportunity to create financial integration, it does not guarantee it, Cipollone said at a symposium hosted by the German central bank. On the contrary:
Skepticism about the digital euro is strong in Germany, especially among older citizens who prioritize privacy and security in financial transactions. Many Germans remain resistant to the idea of a digital currency, with about half unable to imagine using it. Bundesbank President Joachim Nagel has called cash “sacred” in Germany, reflecting deep-rooted concerns about losing […]