European Central Bank: digital currencies to be considered as legal tender

Central Bank Digital Currencies (CBDCs) developed by foreign institutions are most likely going to become legal tender in the eurozone, according to officials, via Bloomberg.

The likelihood of this outcome was confirmed by European Central Bank board member Fabio Panetta on Tuesday in Helsinki. With the implementation of legal tender status, foreign CBDCs are going to act as any foreign currency.

Russian Central Bank’s Elvira Nabiullina has also shared her thoughts on the importance of a proper conversion of various forms of money that will have a direct impact on trust in digital assets.

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