Christine Lagarde promised on Wednesday (4 September) to respond with “agility” to the looming financial and economic turbulences once she becomes the president of the European Central Bank in November, while confirming that the current loose monetary stance will continue for a “long period of time.”
The Economic and Financial Committee (EFC), which brings together the EU’s member states, has requested an analysis note from the European Commission to further look into the risks posed by Facebook’s controversial digital currency Libra and the ways to regulate it.
Three European central bankers are claiming oversight over Facebook’s planned virtual currency to ensure it will not jeopardise the financial system or be used to launder money.
Estonia’s push to become a digital society has left it vulnerable to dirty money and sanction breaches, the country’s top banking regulator has warned.
European decision-makers and regulators are progressing towards an EU approach for dealing with cryptoassets, digital assets that use cryptography such as Bitcoin and represent a booming market still viewed with concern by financial supervisors.