News

Factbox-What Germany's election means for Bitcoin and the super rich

Germany elects a new parliament on February 23, with potential ramifications for the financial industry of Europe's largest economy. Spoiler alert: The far-right Alternative for Germany wants to exit the euro and deregulate Bitcoin, while Chancellor Olaf Scholz's Social Democrats want to tax the super rich. The conservative alliance of Merz's Christian Democrats (CDU) and the Bavarian Christian Social Union (CSU) are leading in the polls and, where finance is concerned, lay out only broad-brush ideas with few specifics.

ECB hopes Trump's crypto plan will speed up digital euro

The European Central Bank hopes U.S. President Donald Trump's plan to support cryptocurrencies pegged to the U.S. dollar will speed up legislative backing for the digital euro, ECB board member Piero Cipollone told Reuters. The ECB has presented its digital currency - essentially an online wallet guaranteed by the central bank - in part as an electronic means of payment that does not rely on dominant U.S. providers such as Visa and PayPal. Cipollone said Trump's support for globally available stablecoins tied to the dollar would help create yet another U.S.-made payment tool and added urgency to the digital euro project.