If you told me that the USA and Europe would have a clash over the powers of Bankers (capital B – the ones that can print money), proudly sponsored by Bitcoin (because it ushered in monetary blockchain technology), I probably wouldn’t have listened to you.
I would call you a conspiracy theorist not even worthy of Joe Rogan.
‘They are both governments, why would they not see eye to eye on giving their Bankers more powers?’
‘And how the hell would a digital currency nobody is in charge of, create this gross policy rift?’
Well well, it is July 2025 and the USA has signed into legislation the banning of CBDCs for its Federal Reserve Bank and its child nodes.
Meanwhile, in Europe, they are going the way of CBDCs for the European Bank.
The ECB is trying to remain relevant in the digital space
As the article’s title image reveals, the ECB recently wanted clients to invest their savings (?!) in its capital markets products.
Some of this money will likely go towards engineering you a great CBDC, dear European reader.
Bankers doubling as Developers, times have indeed changed.
Guess even Bankers’ jobs aren’t that sure anymore. Their fault.
Definitely with a CBDC, you’ll likely be seeing ads like “invest in our capital market for _ (high) yields” , in your crypto wallet.
A crypto wallet with ads. Wonder if that will be cool and interesting.
Better might be to hire a European version of Michael Saylor. Ready to push the Euro’s interests.
It will all be new, that’s for sure. You bet the ECB is going to learn the trials and tribulations of marketing, for once (they were used to just cranking out cash as they see fit, on schedules harder to predict than who will win the European Premier League
Meanwhile, Bitcoin still has a steady predictable schedule of 10 minutes).
Being a believer in (actual) free market capitalism (devoid of annoying central bank cheating – CBC), I would be expected to side with the Trump administration who are promoting market driven dollar stablecoins.
However, Christine Largarde and her Banker friends who are promoting a Central Bank – driven stablecoin will also usher in innovation. To give them a benefit of the doubt, Bankers brag over being more skilled at financial wizardry than crypto bros.
Being a Bitcoiner, I got my popcorn.
Paolo Ardoino and his USDT will have to wrestle new competition in the European field.
Love them, hate them, Bankers are part of the free market. Just like devs, writers, politicians, lawyers, speculators, and the barber in your local circular economy taking bitcoin payments instead of fiat.
For their sake, though, I hope the Digital Euro CBDC is going to be a very stable coin, so stable it will look like the ECB has hired all humanity to trade its Euro as forex, arbitrage out any negative fluctuations.
They’ll need some powerful AI to back them up. They should be building an AI trading bot farm rivaling ChatGPT.
Because CBDCs should maintain their peg to physical fiat cash, otherwise, they will continue failing.
It is what it is. And it is spicy.
The US doesn’t care about Bitcoin. They care about their dollar remaining global reserve currency
So why didn’t I see the US’s anti-CBDC bill as a massive win for the Bitcoin industry? Because stablecoins are not my forte.
The US dollar will benefit better from being promoted by the free market of stablecoins. As is happening already.
It is the perfect plausible deniability ever.
“Oh, the US government has no hands in the mechanics of cryptocurrency stablecoins. Don’t you see, it is all these brilliant innovators in the free market”.
So yes, I hope Largarde and her friends create a worthwhile currency for themselves. Strange as this may sound, they might now have to meet with China and discuss digital currencies.
Because their policy shift needs European bankers and bank clients to have a much bigger level of national pride in what they’re doing, similar to Chinese zeal for national progress.
The United States of America is not going to promote a global and inclusive-for-all digital cryptocurrency devoid of national affiliation — called Bitcoin — that will put currency dynamics everywhere on an equal footing.
Peg them to Math and Physics. And not who has the most military bases.
The US is out to promote the US dollar and to see that everybody Googles (or ChatGPT searches) BTC-USD for the next hundred years. No matter their country.
So in the meanwhile, I say let the ECB try to get people to Google BTC-EURO even more.
To succeed even more, they could copy Bitcoin’s deflationary nature, imo. Make their fiat currency gain value slowly and predictably. They could engineer a halving that happens everyday. It’s their money, they make the rules. No open-source battles to stop them or slow them down.
This won’t be like the physical euro which loses value, but people don’t want shite both in reality and in the virtual world.
