The ECB (European Central Bank) has been looking at accelerating their efforts in the field of digital currency and being ahead of others when it comes to the stable coins. The president of ECB, Christine Lagarde has said as she was giving her maiden press conference on this Thursday.
She highlighted that there was an increased level of interest that the central banks in Britain, Canada and the other countries have expressed when it comes to space of digital currencies as she urged the ECB to be leaders when it comes to stable coins. As per her, the ECB has plans of establishing the clear objectives for the task forces of the bank who are involved int eh digital currency by the middle of next year.
She said that it was her personal conviction that the developments are being seen not quite in the segment of bitcoin but in the projects of stable coins and that they knew of one in the present moment however there are many which have been started to be explored and are underway currently.
She said that they needed to be ahead of the others because clearly there is a demand which exists and they have to react to this.
There has been a long debate over whether the ECB should be issuing its own digital currency for the people to enjoy an easy and cheap way of making payments however there has been resistance that they have faced from the authorities of the European Union.
Earlier in the month, the financial ministers of EU had made the affirmation on their tough stance against the digital currencies which were private.