<\/p>\n
The president of Germany\u2019s monetary authority is advocating for a central bank digital currency (CBDC).<\/p>\n
In a question-and-answer session with economists at the Official Monetary and Financial Institutions Forum (OMFIF) think tank, the president of the Deutsche Bundesbank, Joachim Nagel, says<\/a> he supports a CBDC.<\/p>\n The OMFIF cites Nagel saying that \u201cCBDCs will play a role in the future resilience\u201d of Europe and will assist in protecting the sovereignty of the Eurozone. Nagel says CBDCs are a public good that central banks should offer.<\/p>\n According to the think tank, the Deutsche Bundesbank president views the rise of US companies in the global payments sector as a potential threat in the future since they could be \u201cused in a digital environment as a form of weapon,\u201d a prospect which makes it necessary for Europe to find a backstop measure.<\/p>\n The think tank further cites the Deutsche Bundesbank president saying that it\u2019s \u201ctoo early to tell\u201d how CBDCs, as well as digitalization, could impact the neutral rate of interest \u2013 the interest rate that the European Central Bank aspires to ensure inflation remains stable and the economy stays at full employment.<\/p>\n The OMFIF also says Nagel is opposed to Bitcoin (BTC<\/a>) becoming a form of a reserve currency. The central bank president sees Bitcoin as a \u201cdigital tulip\u201d that is the \u201copposite of transparent.\u201d<\/p>\n \u201cThis is not something central banks should look at. This is not a liquid form of something you want on the balance sheet. We should be very cautious here.\u201d<\/em><\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>  <\/p>\n Generated Image: Midjourney<\/em><\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" The president of Germany\u2019s monetary authority is advocating for a central bank digital currency (CBDC). In a question-and-answer session with economists at the Official Monetary and Financial Institutions Forum (OMFIF) think tank, the president of the Deutsche Bundesbank, Joachim Nagel, says he supports a CBDC. The OMFIF cites Nagel saying that \u201cCBDCs will play a […]<\/p>\n","protected":false},"author":2,"featured_media":371522,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-371520","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/371520","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=371520"}],"version-history":[{"count":3,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/371520\/revisions"}],"predecessor-version":[{"id":371528,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/371520\/revisions\/371528"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/371522"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=371520"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=371520"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=371520"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n
\nCheck Price Action<\/a><\/span><\/em>
\n
\nFollow us on X<\/a>, Facebook<\/a> and Telegram<\/a><\/span><\/em>
\n
\nSurf The Daily Hodl Mix<\/a><\/span><\/em>
\n<\/p>\nDisclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.<\/h6>\n<\/div>\n