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Eurozone Finance Ministers Pledge Support for Digital Euro Project, Talk Privacy

Eurozone Finance Ministers Pledge Support for Digital Euro Project, Talk PrivacyThe ministers of finance of the countries in the eurozone reaffirmed their support for efforts to prepare for the potential launch of a digital euro. Meanwhile, the single currency area’s monetary authority sought to reassure future users that the new currency will be “preserving privacy by default and by design.” Eurogroup to Remain Involved in […]

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Rate Hikes Needed to Reduce Eurozone Inflation Despite Recession, Top ECB Official Says

Rate Hikes Needed to Reduce Eurozone Inflation Despite Recession, Top ECB Official SaysInterest rates will continue to rise while the euro area falls into recession, a high-ranking executive at the European Central Bank (ECB) has indicated. His statements follow the latest rate increase announced by the monetary authority last week and revised projections showing higher than previously expected inflation in Europe ahead. ‘We Have No Choice But […]

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Russia Shuts off Europe’s Main Gas Pipeline Until the West’s Sanctions Are Lifted, Iran Tempts EU With Similar Deal

Russia Shuts off Europe’s Main Gas Pipeline Until the West’s Sanctions Are Lifted, Iran Tempts EU With Similar DealRussia has seemingly drawn a line in the sand and will not turn on Europe’s main gas pipeline until the “collective West” lifts the financial sanctions against the country. The move follows the Nord Stream 1 pipeline allegedly shutting down for “maintenance,” but reports from Interfax that followed five days later indicate Moscow will not […]

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Rome’s Financial Volatility to Shock the Eurozone — Hedge Funds Bet $39 Billion Against Italian Debt

Rome’s Financial Volatility to Shock the Eurozone — Hedge Funds Bet  Billion Against Italian DebtHedge funds are betting against Rome’s liabilities as S&P Market Intelligence data indicates investors have amassed a $37 billion short bet against Italian debt. The hedge funds are betting large against Italian bonds and investors haven’t bet this high against Rome since 2008, as Italy faces political uncertainty, an energy crisis, and an inflation rate […]

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ECB Calls for Urgent Regulation of Stablecoins and Defi, Won’t Rule Out Bitcoin Mining Ban

ECB Calls for Urgent Regulation of Stablecoins and Defi, Won’t Rule Out Bitcoin Mining BanA new report by the European Central Bank (ECB), presented as a “deep dive into crypto financial risks,” calls for “appropriate” regulation and oversight of stablecoins and decentralized finance (defi). It also addresses the hot topic of Bitcoin’s carbon footprint in Europe, suggesting a ban on proof-of-work mining is probable. Growth of Stablecoins, Defi Warrants […]

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ECB Considers Capping Digital Euro in Circulation at 4,000 per Capita, Panetta Reveals

ECB Considers Capping Digital Euro in Circulation at 4,000 per Capita, Panetta RevealsWith concerns about financial stability in mind, the European Central Bank (ECB) plans to limit digital euro holdings, according to Board Member Fabio Panetta. The plan is to have a maximum amount of digital cash in circulation similar to that of euro banknotes today, the official unveiled. Eurozone’s Central Bank to Keep Total Digital Euro […]

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ECB Survey Finds 10% of Eurozone Households Own Crypto Assets

ECB Survey Finds 10% of Eurozone Households Own Crypto AssetsOne in every 10 households in six eurozone countries has acquired cryptocurrencies, the European Central Bank (ECB) has found with a new survey. While the richest are most likely to own crypto assets, poor families are not far behind, the poll indicates. Dutch Households Lead in Terms of Crypto Ownership, ECB Survey Shows Every tenth […]

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Cryptocurrency Is ‘Based on Nothing,’ Should Be Regulated, ECB’s Lagarde Says

Cryptocurrency Is ‘Based on Nothing,’ Should Be Regulated, ECB’s Lagarde SaysPresident of the European Central Bank Christine Lagarde has insisted that unlike a digital euro, cryptocurrency has no underlying asset. It should be regulated to prevent people from losing their life savings by speculating on crypto assets, the top ECB official has suggested. Cryptocurrency Is ‘Worth Nothing,’ ECB Governor Claims The head of the eurozone’s […]

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ECB Favors Transparency Over Privacy in Digital Euro Design, Presentation Reveals

ECB Favors Transparency Over Privacy in Digital Euro Design, Presentation RevealsThe European Central Bank (ECB) leans toward a “transparent” digital euro over one that ensures a higher level of privacy for its users, a presentation devoted to the project has indicated. In the document, the monetary authority explores different privacy options for the eurozone’s digital fiat. User Anonymity Not Desirable for Digital Euro, ECB Says […]

Bitcoin Bull Market May Drive Russian Miners Underground