European Central Bank President Christine Lagarde revealed that her son suffered huge losses from investing in cryptocurrency. Lagarde stated that he completely ignored me, which is his privilege, and he lost almost all the money he invested in cryptocurrency trading. Although not much, he lost everything, about 60%, so when I talked to him about this again, he reluctantly accepted that I was right.

EU data privacy regulatory agency stated in a statement released on Wednesday that the EU's digital euro plan needs to avoid the "excessive centralization" of the European Central Bank. The European Central Bank is about to decide whether to continue its central bank digital currency (CBDC) plan, which has raised serious concerns about potential national control.

According to a temporary document (OP) from the European Central Bank (ECB), if DAO wants to have a place in the future of the financial industry, it needs a comprehensive regulatory framework. The document emphasizes how technology can surpass the regulation related to DAO and negatively affect the safety and sustainable growth of the ecosystem. The paper concludes: "Before DAO is fully regulated globally, its position in the future financial industry will inevitably remain limited; they currently do not (and will not in the future) pose a serious threat to the smooth operation of financial stability, payment and securities systems, and the adequate protection of consumers."

June 23 (Cointime) - Governor of the Banque de France François Villeroy de Galhau spoke at the Global Official Institutions Conference hosted by BNP Paribas about the potential benefits of a digital euro. He emphasized that disintermediation is not the goal and that commercial banks will still play a role in the financial system. Villeroy de Galhau also discussed the need for a framework for the ECB to provide Eurosystem resolution liquidity in the event of a crisis. The digital euro would be a digital banknote, or "Cash+," and would be rolled out gradually beginning in 2027 or 2028 if approved by the European Central Bank Governing Council.

Markets are anticipating the Federal Reserve to pause rate hikes next week and will be closely monitoring economic data due to a blackout on Fed speakers. The Australian central bank raised rates on Tuesday, causing the Aussie dollar to rise.

European Central Bank President Christine Lagarde suggested in a speech that interest rates in the euro zone may need to be raised further, as there is no clear evidence that core inflation has peaked. This comes after data showed inflation in the 20-nation euro zone slowed last month, but Lagarde believes there is still ground to cover to bring interest rates to sufficiently restrictive levels. The ECB is likely to increase interest rates at least one more time to ensure the 2% inflation target is reached. Meanwhile, in the US, the FOMC will meet in June to decide on further interest rate hikes.

The European Central Bank (ECB) has finalized prototypes for a digital euro and will decide later this year whether to develop the EU's fiat currency in this new format. The ECB believes that a potential central bank digital currency (CBDC) can boost innovation, but is skeptical about using Web3-style distributed ledger technology and smart contracts. The prototypes have been controversial due to the involvement of Amazon, but ECB Executive Board member Fabio Panetta downplayed the significance of this and stated that the prototypes were a "lab experiment" to be discarded. The ECB rejected distributed ledger technology for the back-end of the prototype, favoring a centralized model based on unspent transaction outputs (UTXO) that allows for fast and efficient validation of transactions and conditional payments without using smart contracts.

The European Central Bank has reported that consumers in the euro area have significantly increased their expectations for inflation in the coming months. According to the latest Consumer Expectations Survey, Europeans believe inflation will be around 5% over the next 12 months, up from 4.6% in February. Despite slowing the pace of rate hikes, the ECB has indicated that underlying price pressures remain strong, signaling further raises are likely. The survey, which is conducted monthly and includes 14,000 consumers from six euro area countries, is used by the ECB for policy analysis.

European Central Bank (ECB) President Christine Lagarde has warned that the U.S. dollar’s reserve currency status “should no longer be taken for granted.”

ECB Considers Digital Euro to Complement Cash with Maximum Privacy; China’s Big CBDC Plan: Digital Yuan For Europe Trade; Binance Launches Liquid Staking Token, Joins Growing Market After Ethereum’s Latest Upgrade