ECB warns the future of money is at stake as Facebook preps January crypto launch
European Central Bank Executive Board member Fabio Panetta is not keen to allow stablecoin issuers to invest their reserve assets in the form of risk-free deposits at the central bank. “It would be tantamount to outsourcing the provision of central bank money, and could endanger monetary sovereignty if, as a result, the stablecoin were to largely displace sovereign money as a means of payment. Money would then be reduced to a ‘club good’ offered in return for the payment of a fee or membership of a platform.”
What happens to your Bitcoin when you die?
Millions of dollars in crypto is being lost each year through the deaths of its owners. Crypto insurance firm Coincover estimates that around 4 million Bitcoin is out of circulation after access was lost, with a large portion likely caused by death. But this doesn’t mean that cryptocurrencies like Bitcoin can’t be bequeathed and will inevitably be buried forever with the deceased owner. In fact, there are a number of ways for investors to bequeath their crypto to the next generation…