ECB President Christine Lagarde downplays any risks bitcoin and other cryptocurrencies could pose to financial stability and monetary sovereignty. In contrast, she sees stablecoins, such as Facebook-backed libra, as posing “serious risks.”

Christine Lagarde, Bitcoin, and Facebook’s Libra

The president of the European Central Bank (ECB), Christine Lagarde, shared her view on the future of money in an article published Monday in L’ena hors les murs magazine. She specifically discussed “bitcoin or other crypto-assets that have been trying to gain a foothold in the digital payments space and to anchor trust in their technology.”

Lagarde began by stating that innovations like blockchain technology “bring both new opportunities and new risks.” She noted that peer-to-peer (P2P) transactions have “no need for a trusted third-party intermediary,” asserting that the trust “is replaced by cryptographic proofs and the security and integrity of records is ensured by DLT, which avoids the…

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Source: https://news.bitcoin.com/ecb-christine-lagarde-downplays-bitcoin-risks-financial-stability/