U.S. and Europe Differ in Approaches to Central Bank Digital Currencies — Market Talk

The ECB's approach to launch a digital euro reflects the bloc's consensus-driven model and regulatory oversight, which contrasts with hesitant developments in the U.S. "I think there's a fundamental belief that the private sector is much better placed to be the innovator around digital money topics," Deutsche Bank's head of digital assets and currencies transformation Sabih Behzad says in a panel at the MoneyLIVE Summit in London on the U.S.'s approach, which he sees as driven by privacy and anonymity concerns. Nordea's chief strategist for digital currencies Ville Sointu adds that these divergences underline how central bank digital currencies are "extremely political projects": China's digital yuan is highly controlled and centralised while Nigeria's ambition is to use digital currencies for financial inclusion. ([email protected])