Cryptocurrency prices are inflated by “monetary misconceptions” and conspiracy theories, while CBDC are immune to volatility and can be trusted unconditionally. This was stated by the head of the Central Bank of Finland, Olli Rehn, writes CoinDesk.
“Someone joked that the national digital currency is the solution to the problem. I am not a fan of them, but I am convinced that detractors unfairly downplay the potential benefits of CBDC“, he said.
Ren drew attention to the potential risks of the transition to a more digital economy in the context of the growth of crypto markets over the past five years.
The manager expressed the opinion that the high volatility of such assets is only partly due to the influence of monetary policy.
“Central banks should prepare for the moment when convertibility to CBDC is required. We must remember that reliable and secure access to central bank money is the foundation of price and financial stability.” he explained.
Ren repeated the position ECB that the digital euro will guarantee the preservation of the agency as the anchor of the EU monetary system.
Previously Regulator indicated on the dependence of the success of CBDC on the degree of its acceptance.
Recall that the initiative to issue a digital euro arose in November 2019. In October 2020, the ECB published comprehensive report on this topic.
In May 2022, regulator board member Fabio Panetta admitted CBDC release until 2026.
The official later said that the ECB would limit issuance of a digital euro at the level of 1.5 trillion.
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Cryptocurrency prices are inflated by “monetary misconceptions” and conspiracy theories, while CBDC are immune to volatility and can be trusted unconditionally. This was stated by the head of the Central Bank of Finland, Olli Rehn, writes CoinDesk.
“Someone joked that the national digital currency is the solution to the problem. I am not a fan of them, but I am convinced that detractors unfairly downplay the potential benefits of CBDC“, he said.
Ren drew attention to the potential risks of the transition to a more digital economy in the context of the growth of crypto markets over the past five years.
The manager expressed the opinion that the high volatility of such assets is only partly due to the influence of monetary policy.
“Central banks should prepare for the moment when convertibility to CBDC is required. We must remember that reliable and secure access to central bank money is the foundation of price and financial stability.” he explained.
Ren repeated the position ECB that the digital euro will guarantee the preservation of the agency as the anchor of the EU monetary system.
Previously Regulator indicated on the dependence of the success of CBDC on the degree of its acceptance.
Recall that the initiative to issue a digital euro arose in November 2019. In October 2020, the ECB published comprehensive report on this topic.
In May 2022, regulator board member Fabio Panetta admitted CBDC release until 2026.
The official later said that the ECB would limit issuance of a digital euro at the level of 1.5 trillion.
Read Cryplogger bitcoin news in our Telegram – Cryptocurrency news, courses and analytics.
Found a mistake in the text? Select it and press CTRL+ENTER
