RATE Group | There is a lack of a business case for CBDC – ECB’s Mersch
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There is a lack of a business case for CBDC – ECB’s Mersch

12 May There is a lack of a business case for CBDC – ECB’s Mersch

Posted at 00:00h in Cryptocurrency News by

  • ECB’s Mersch says CBDC is a theoretical exercise.
  • The market gets back on recovery track with Bitcoin moving above $9,000.

Speaking at the Consensus 2020 virtual conference on May 11, the member of the Executive Board of the ECB, Yves Mersch, shared the view of the European regulator on the concept of central bank-issued digital currency (CBDC).

According to the top ECB official, the central bank is engaged in the research on virtual currencies just as the overwhelming majority of other central banks. He admitted that financial innovation has disruptive potential and may change the way payments are processed. However, at this stage, the discussion abounds CBDC is more theoretical than practical, as there is no clear business case for this type of money. 

The ECB’s debate on CBDCs is therefore mainly analytical. Whether and when it becomes more of a policy debate will largely depend on the preferences of households.

Apart from that, Yves Mersch…

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