Christine Lagarde: "The digital euro could be released in the next two to four years"

The President of the European Central Bank Christine Lagard said, what, In her opinion, EU money regulation bodies can release digital euros in the next two to four years.

At an online conference together with the chairman of the Fed Jourom Powell (Jerome Powell) and President of England Bank Andrew Bailey (Andrew Bailey) Christine Lagarde (Christine Lagarde) said, That the development of digital euros will take a lot of time.

It is necessary to develop not only basic technology, but also measures to combat money laundering and prevent financing terrorism. She noted, that the Central Bank of China has been working on the digital version of the yuan for several years. Lagarda said:

“We may well begin to move in this direction. I suspect, that this will happen in the next two to four years ".

At the beginning of the month, the ECB launched a survey, in which he invited the EU citizens to express his position on the release of digital euros. Earlier, the European Central Bank submitted a report, where did you indicate four conditions, in which digital euros will be released.

“If digital euros contribute to cross -border payments, We must study this concept. Digital euro will not replace cash. It will be an addition ", - said Lagarde.

For your part, Fed's chairman Jerome Powell noted, that the Central Bank of the United States estimates the advantages of a digital dollar, But he has not yet decided to issue his own cryptocurrency and is unlikely to release it in the next few years.

Chairman of the Bank of England, that there may be problems with the confidentiality of stablecoins, private, and state cryptocurrencies can be a "answer to this problem". Bailey previously declared, which advocates global regulation of stablecoins.

Recall, that according to the latest report by Deutsche Bank, State cryptocurrencies will replace cash. Digital currencies of the Central Bank can also eliminate intermediaries in the banking system, that will cause serious consequences.