You are currently viewing The ECB Moves Into Next Phase of CBDC

Happy Wednesday, Blockfolians

The Lede

The European Central Bank is moving into the next phase of their digital euro project. This “investigation” phase is slated to last 24 months and consider key questions around the design of a digital euro, potential changes necessary in European legislation, and implications for the broader markets and financial intermediaries.

The goal of this phase would be to move to another development phase, which would be another 3 years again. So even “moving full steam ahead” means a 5 year shift.

Meanwhile, back in the US one Federal Reserve Vice Chair threw some cold water on the entire CBDC enterprise, suggesting that private USD-denominated stablecoins could make the whole thing redundant and unnecessary.

Pretty interesting times in digital money land, we’ll say that.

Subscribe now

Enjoying Blockfolio’s Market Refresh? Sign up to have it delivered every day.

Highly Relevant Reading

  • ShapeShift is shifting itself out of (centralized) existence

  • Paraguay introduces crypto legislation

  • Sumpin’ funky happening with Uniswap education/policy DAO

  • Anheuser-Busch working with Gary Vee on long-term NFT play

Community Commentary

The CEO of Blackrock says investors aren’t focused on crypto right now
Well, hello Senator Toomey

A Really Big Number We Should Be Paying Attention To


That’s the size of a recent raise from a Chinese miner to help them re-locate. The great hashrate migration is underway!

Final Thought