{"id":31303,"date":"2020-11-05T12:07:26","date_gmt":"2020-11-05T10:07:26","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=31303"},"modified":"2025-08-28T02:59:46","modified_gmt":"2025-08-27T23:59:46","slug":"ecb-warns-big-tech-stablecoins-threaten-privacy-and-innovation","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/ecb-warns-big-tech-stablecoins-threaten-privacy-and-innovation\/","title":{"rendered":"ECB warns big-tech stablecoins threaten privacy and innovation"},"content":{"rendered":"<p><span style=\\\"font-weight: 400;\\\">Digital currencies issued by large technology companies, such as Libra from Facebook, raise concerns about data protection. This was stated by Fabio Panetta, a member of the European Central Bank&#8217;s Executive Board, <\/span><a href=\\\"https:\/\/www.reuters.com\/article\/us-ecb-policy-crypto-idUSKBN27K12V\\\" target=\\\"_blank\\\" rel=\\\"noopener noreferrer\\\"><span style=\\\"font-weight: 400;\\\">Reuters<\/span><\/a><span style=\\\"font-weight: 400;\\\">.<\/span><!--more--><\/p>\n<p>\\n<\/p>\n<blockquote>\n<p><span style=\\\"font-weight: 400;\\\">\u201cA wide range of questions are at stake: from data security and compliance with the EU&#8217;s data-protection law to the winding down of European financial innovations,\u201d he said.<\/span><\/p>\n<\/blockquote>\n<p>\\n<\/p>\n<p>Earlier Panetta <a href=\"https:\/\/u1f987.com\/en\/news\/ecb-outlines-use-cases-for-the-digital-euro\"><span style=\\\"font-weight: 400;\\\">spoke<\/span><\/a><span style=\\\"font-weight: 400;\\\"> about the advantages of the digital euro. According to him, a CBDC would foster the digitisation of payments and the modernization of the European economy.<\/span><\/p>\n<p>\\n<\/p>\n<blockquote class=\\\"wp-embedded-content\\\" data-secret=\\\"NDnWVZfCr5\\\">\n<p>What is central bank digital currency (CBDC)?<\/p>\n<\/blockquote>\n<p>\\n<\/p>\n<p><iframe loading=\\\"lazy\\\" class=\\\"wp-embedded-content\\\" sandbox=\\\"allow-scripts\\\" security=\\\"restricted\\\" style=\\\"position: absolute; visibility: hidden;\\\" title=\\\"What is central bank digital currency (CBDC)? \u2014 ForkLog\\\" src=\\\"https:\/\/u1f987.com\/cryptorium\/chto-takoe-tsifrovaya-valyuta-tsentrobankov-cbdc\/embed#?secret=5AgeBl3xwD#?secret=NDnWVZfCr5\\\" data-secret=\\\"NDnWVZfCr5\\\" width=\\\"500\\\" height=\\\"282\\\" frameborder=\\\"0\\\" marginwidth=\\\"0\\\" marginheight=\\\"0\\\" scrolling=\\\"no\\\"><\/iframe><\/p>\n<p>\\n<\/p>\n<p>The ECB has long warned about Libra in negative terms. In May the regulator issued a document outlining Libra&#8217;s potential impact on financial stability.<\/p>\n<p>\\n<\/p>\n<p>Meanwhile, the ECB is actively developing the digital euro initiative. In November, ECB President Christine Lagarde <a href=\"https:\/\/u1f987.com\/en\/news\/ecb-launches-public-consultation-on-digital-euro\"><span style=\\\"font-weight: 400;\\\">announced<\/span><\/a><span style=\\\"font-weight: 400;\\\"> a survey on it for EU residents.<\/span><\/p>\n<p>\\n<\/p>\n<p>Subscribe to ForkLog news on Telegram: <a href=\\\"https:\/\/t.me\/forklogfeed\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener noreferrer\\\">ForkLog Feed<\/a> \u2014 the full news feed, <a href=\\\"https:\/\/telegram.me\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener noreferrer\\\">ForkLog<\/a> \u2014 the most important news and polls.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Digital currencies issued by large technology companies, such as Facebook&#8217;s Libra, raise concerns about data protection. This was stated by Fabio Panetta, a member of the European Central Bank&#8217;s Executive Board, Reuters reports.<\/p>\n","protected":false},"author":1,"featured_media":31304,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1410,1089,1138],"class_list":["post-31303","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-ecb","tag-libra","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/31303","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=31303"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/31303\/revisions"}],"predecessor-version":[{"id":31305,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/31303\/revisions\/31305"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/31304"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=31303"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=31303"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=31303"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}