“Digital currencies are a phenomenon we cannot ignore and need to understand, as a sector and as a society, in their full dimension and complexity. They are here to stay.” This was stated by our president, Jos\u00e9 Mar\u00eda Rold\u00e1n, at the Digital Coin and European Financial System forum. <\/p>\n
During the opening of these sessions on central bank digital currency (CBDC) as a common use reality, he maintained that CBDCs “have a great future as they will provide efficiency by replacing cash, but without competing with bank deposits.”<\/p>\n
However, he warned of the need to be careful with safe coins, including Diem, Facebook’s project previously known as Libra, because “if they become very powerful, they could compete with some official currencies of emerging countries and create financial stability problems.”<\/p>\n
Jos\u00e9 Mar\u00eda Rold\u00e1n emphasized that “pure digital currencies, such as Bitcoin, are difficult to understand, as they function as a medium of exchange but not as a store of value or a unit of account,” meaning they are “incomplete money.” He therefore recommended forming a solid opinion based on evidence before investing in this type of speculative asset.<\/p>\n
Regarding the role of regulation in the new financial system following the emergence of Bigtech in the provision of banking services, our advisor Lorena Mullor explained that authorities are studying changes to ensure a fair playing field for all competitors, in which consumers are safeguarded.<\/p>\n
She also stressed that “there is financial regulation and supervisory practices that need to be updated because they now pose barriers to innovation and investment in technology by banks,” referring to cloud services and artificial intelligence.<\/p>\n
Similarly, she argued that “the development infrastructures of cryptocurrencies must be regulated because it is necessary to protect consumers, combat money laundering, and ensure the stability of the financial market.”<\/p>\n","protected":false},"excerpt":{"rendered":"
Consult here the speeches by our president, Jos\u00e9 Mar\u00eda Rold\u00e1n, and our advisor, Lorena Mullor, at the Digital Coin and European Financial System forum, on central bank digital currency (CBDC) as a common use reality.<\/p>\n","protected":false},"featured_media":38278,"parent":0,"template":"","etiquetas":[],"categorias-blog":[783],"class_list":["post-38277","blog-aeb","type-blog-aeb","status-publish","has-post-thumbnail","hentry","categorias-blog-presidency"],"yoast_head":"\n