Cryptocurrencies No Substitute For Money, ECB Says

Law360, London (September 30, 2019, 12:58 PM BST) -- Cryptocurrencies are not a suitable replacement for money, but the European Central Bank will consider changing its policy if technology develops further, the authority’s president Mario Draghi has said.

So-called stablecoins — digital tokens pegged to other, more stable assets such as traditional currencies — could become widely popular, particularly if they are introduced by large technology companies such as Facebook, which plans to issue a digital currency, Draghi added.

The European System of Central Banks — which embraces the ECB and the bloc's central banks — will be open to changing its position on stablecoins if they become more mainstream, Draghi said...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!