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‘Cryptos are Not Currencies,’ Says ECB’s Lagarde

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European Central Bank (ECB) President Christine Lagarde recently emphasized that cryptocurrencies are not actually currencies, but “highly speculative assets.”

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“Cryptos are not currencies, full stop,” Lagarde stressed. “Cryptos are highly speculative assets that claim their fame as currency, possibly, but they’re not. They are not.” Although not a currency, she did say that they were “highly speculative, suspicious occasionally, and high intensity in terms of energy consumption.

Stablecoins and CBDCs

Despite her disdain for cryptocurrencies, Lagarde is more open to stablecoins, as they could facilitate central bank digital currencies (CBDCs). However, as they continue to spread, she believes they and the companies issuing them need more regulation.

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“You have those stablecoins that are beginning to proliferate, which some big techs are trying to promote and push along the way, which are a different animal and need to be regulated, where there has to be oversight that corresponds to the business that they’re actually conducting, irrespective of how they name themselves,” Lagarde said.

To this end, the ECB under Lagarde launched its digital euro projects this year in response to private-sector digital currencies. “I was keen to push the issue, the CBDC issue, on our agenda because I believe that we have to stand ready for that,” she said. Despite the push, the ECB President previously said that a digital Euro could take up to four years to produce. She remarked upon being “prompted by a demand of customers to produce something that will make the central bank and central bank digital currencies fit for the century we are in.”  

CBDC need

The Bank of International Settlements (BIS) shares Lagarde’s perspective about the need for CBDCs to stand up to the rise in privately issued cryptocurrencies. It also believes that without CBDCs, digital money would become increasingly dominated by big tech firms. This could potentially happen primarily by them leveraging their enormous social media user base.

In its latest Annual Economic Report, released earlier this summer, BIS dedicated a chapter to CBDCs. While applauding advancement in the payment systems, the report said that their benefits would depend on their structure and governance. On the one hand, the technology could enable a “virtuous cycle” of broader access, lower costs, as well as better services.

However, the report notes the potential for a “vicious cycle” of data silos, market power, and anti-competitive practices. “CBDCs and open platforms are the most conducive to a virtuous circle,” the report notes.

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All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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Nick is a data scientist who teaches economics and communication in Budapest, Hungary, where he received a BA in Political Science and Economics and an MSc in Business Analytics from CEU. He has been writing about cryptocurrency and blockchain technology since 2018, and is intrigued by its potential economic and political usage. He can best be described as an optimistic center-left skeptic.

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Source: https://beincrypto.com/cryptos-are-not-currencies-says-ecbs-lagarde/

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4 punti Ask Yourself when you are angry al tuo Guy

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Noi-tutti have crazy al tutti i nostri uomini frequentemente, ma occasionalmente è generalmente anche peggiore rispetto agli altri. Potresti pensare quale lui è oltre a danno a te o sei ottenere anche doloroso e sensibile, ma spesso è solo tanto lui com’è tu. Tuttavia potresti sentire che i ragazzi sono semplicemente insensibili, è quello che preso qualunque cosa il ragazzo menzionato completamente sbagliato?

Poco prima entrare un knock-down-drag-out battaglia, potresti volere attentamente cosa veramente andato errato. Se trovi che sei pazzo con lui e anche tu desidero realizzare un po’ di valutazione, può effettivamente ripagare. Questo può aiutare noi al fine di evitare numerosi partite potrebbe anche permettici di osservare circostanze dimostrabilmente. Quindi prendi un passo indietro, fai un buon respiro profondo, e chiedi te stesso queste preoccupazioni la prossima volta sei crazy at the man!

1. Did the guy really mean it just how I preso? I ragazzi sono davvero letterale creature e le donne sono molto mentale creature. A volte ottenere due incontrarsi al centro non è sempre semplice. Devi pensare se il ragazzo veramente significato esattamente come lui è arrivato fuori, o se tu stai verificando altro assorbito. Comunemente uomini answer una preoccupazione o solo rispondere a qualcosa senza fornire circostanze molto pensiero. Se lo desideri assicurati se sei matto con lui o forse no, prendersi cura di consideralo ed estremamente esaminare se lui significato {il modo in cui|il modo in cui|l’hai ottenuto.

2. In realtà è lui un fantastico ragazzo spesso e questo è isolato incidente? A volte potrebbe aver sperimentato un terribile ora, in cui lui prende it per te. Se il ragazzo sente fuori controllo o infastidito allora lui potrebbe clic contro di te, e può essere un incidente isolato. Se è un piacevole uomo spesso, poi tagliato lui un po ‘di flessibilità. Tutti fa errori e questo è probabilmente loro creare, così potresti dover lasciarlo slip. Se lui è di solito davvero in traccia verso sentimenti e si preoccupa di te significativamente, potrebbe essere probabilmente varrà moving last in conclusione.

3. Really does the guy ha una routine di danneggiare mio personale emozioni o eseguito lui solo rispondere a qualcosa? Sii onesto nel tuo valutazione proprio qui da questo in realtà importa dentro grande immagine. Se lui il tipo esattamente chi influisce i tuoi sentimenti tipicamente successivo cioè una motivo sufficiente per essere sconvolto con lui. Se lui è solo rispondere a te o se lui spesso un benefico uomo allora puoi certamente trascurarlo. Se tuttavia lui uno schema di danneggiare le tue emozioni o piazzare suo personale base, avrai bisogno possedere molto di più significativo dialogo.

4. Was I being also painful and sensitive o critico, o forse è tutto questo giustificato? Devi effettivamente avere un senso per quando è tu o se forse è davvero lui. Chiediti davvero se dovresti esserlo diventare anche critico o rapido per rispondere, o se è garantito. Occasionalmente possiamo rispondere e guardare dopo era assolutamente important. Trascorri un po ‘di tempo per in realtà guarda questo e probabilmente varrà passare rapidamente che ogni cosa iniziato in l’iniziale destinazione.

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Blockchain

Bifrost (BNC) Trading Starts October 26 – Deposit Now

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We’re thrilled to announce that Kraken now supports Bifrost (BNC)!

  • Deposits and withdrawals are available starting now. 
  • Trading will begin October 26 at approximately 15:30 UTC.

Note: Trading is not available to residents of the USA, Canada, Australia and Japan.

What is Bifrost?

Bifrost provides staking liquidity to anyone accessing its network. This means token holders can stake any cryptocurrency, such as DOT or ETH, on the Bifrost platform and receive a vToken of equal value (vDOT or vETH), allowing them to access decentralized finance applications while still receiving staking rewards.

Will I receive BNC for contributing to the auction?

What time will funding and trading start?

Deposits and withdrawals are live! Trading starts on October 26, at approximately 15:30 UTC. 

Trading pairs for BNC

  • BNC/USD
  • BNC/EUR

How to deposit BNC

  1. Navigate to Funding and click on Deposit. You can find the asset either by locating it in the list or by searching for “BNC.”
  2. Click “Deposit” next to BNC and follow the on-screen instructions.

Confirmations required before deposits credit

  • 25 (about 4 minutes)

Trading minimums

  • 1 BNC (price precision $0.01 / €0.01)

Fees and funding minimums 

Which services will be available for BNC?

Available

Not (yet) available

Will Kraken list more assets?

Yes! But our policy is to never reveal any details until shortly before launch – not even which assets we are considering. All of Kraken’s listed tokens are available on our website, and all future tokens will be announced on Kraken’s blog and social media profiles. Our client engagement specialists cannot answer any questions about which assets we may be listing in the future. 

Trade with caution

Limit orders are recommended when trading starts since the markets may be illiquid initially. Be extremely careful with market orders and orders that trigger market orders (e.g. stop loss).

Invest with caution

Listing an asset or token for trade is not a recommendation to buy, sell, or participate in the associated network. Do your own research and invest at your own risk.

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Source: https://blog.kraken.com/post/11639/bifrost-bnc-trading-starts-october-26-deposit-now/

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Blockchain

LQwD FinTech Corp. (TSX.V: LQWD) (OTCQB: LQWDF) Enters Strategic Services Agreement with BIGG Digital Assets Inc. (CSE: BIGG) Subsidiary Netcoins

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  • Netcoins will establish a node using LQwD’s Lightning Network PaaS, marking the first institutional grade lightning payment channel for BIGG and Netcoins
  • Netcoins will serve as LQwD’s preferred liquidity provider for Coincurve.com, and the two affiliates will also provide the currency platform and Lightning Network with a suite of institutional/government grade compliance software – including BitRank(R) and QLUE(TM)
  • Blockchain is expected to grow at a CAGR of 82.4% from 2021 to 2028, resulting in overall revenue of $394.6 billion by 2028, from $5.88 billion in 2021
  • In the last 90 days, the Lightning Network has experienced explosive node growth, doubling and increasing BTC capacity by 51.74%

Accelerating the global megatrend of Bitcoin adoption through its proprietary Lightning Network, financial technology company LQwD FinTech (TSX.V: LQWD) (OTCQB: LQWDF) has announced that it has entered into a strategic services agreement with Netcoins, Inc., a leading Canadian crypto trading platform and a subsidiary of BIGG Digital Assets (CSE: BIGG) (https://ccw.fm/q2lns). 

LQwD provides a unique opportunity to participate in advanced technology within the financial market, the idea of Bitcoin as an asset, and the infrastructure that powers its layer-2 payment solution in the Lightning Network. Under the agreement, Netcoins will establish a node using LQwD’s Lightning Network Platform as a Service (“PaaS”) software. This will mark the first institutional grade lightning payment channel for BIGG and its subsidiary.

In turn, Netcoins will serve as the preferred liquidity provider for LQwD’s virtual currency platform, Coincurve.com. BIGG’s Blockchain Intelligence Group and Netcoins’ affiliate will provide the currency platform and Lightning Network with a suite of institutional and governmental grade compliance software – including BitRank(R) and QLUE(TM).

“We are grateful to have a strong relationship with Netcoins and Blockchain Intelligence Group as we expand our footprint in the rapidly emerging Bitcoin Lightning Network. LQwD can now leverage BitRank(R) and QLUE(TM) for our AML needs and route crypto purchases for Coincurve.com and additional platforms through Netcoins, Canada’s first publicly traded, licensed crypto trading platform,” LQwD CEO Shone Anstey said. “It also allows Netcoins to have an early mover advantage in the Canadian markets for handling instant deposits and withdrawals of Bitcoin via LQwD’s Bitcoin Lightning Network platform.”

LQwD’s Lightning Network is a solution that provides mass scaling of Bitcoin for microtransactions worldwide, by providing significant improvements on transaction fees and settlement times. In the last 90 days, the Lightning Network has experienced explosive node growth, doubling and increasing the Lightning Network BTC capacity by 51.74%, amid enthusiasm over the potential incorporation of the Network with various popular platforms.

Driven by the goal of building the Lightning Network to allow users to make instant, secure, and inexpensive payments anywhere in the world using Bitcoin, LQwD is working to revolutionize the global digital currency industry. This revolution is reinventing money and finance, giving individuals greater control over their financials. Now, users can save, earn, send, receive, and complete transactions any time – day or night – with minimal cost. The opportunities and the pace of this rapidly growing industry are only getting bigger as more industries and individuals are turning toward blockchain cryptocurrencies. 

Blockchain technology is subsequently expected to continue growing at a CAGR of 82.4% from 2021 to 2028. The market’s estimated value for 2021 is $5.88 billion and is projected to grow to $394.6 billion by 2028 (https://ccw.fm/IFL37). This increase is expected due to the growing acceptance of blockchain technology for payment processing and issuance of digital currencies by financial institutions worldwide. Removing unnecessary intermediaries, blockchain technology decentralizes the industry and allows for better performance during transactions.

For more information on LQwD and the Lightning Network, visit the company’s website at https://lqwdfintech.com.

NOTE TO INVESTORS: The latest news and updates relating to LQWDF are available in the company’s newsroom at https://ccw.fm/LQWDF 

About CryptoCurrencyWire

CryptoCurrencyWire (“CCW”) is a financial news and content distribution company that provides (1) access to a network of wire services via InvestorWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets, (3) enhanced press release services to ensure maximum impact, (4) social media distribution via IBN (InvestorBrandNetwork) to nearly 2 million followers, and (5) a full array of corporate communications solutions As a multifaceted organization with an extensive team of contributing journalists and writers, CCW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, CCW brings its clients unparalleled visibility, recognition and brand awareness. CCW is where news, content and information about crypto converge.

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