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Seeking Alpha 2021-07-14 12:26:26

ECB makes big move towards digital euro, says better than Bitcoin

peshkov/iStock via Getty Images "The Governing Council of the European Central Bank has decided today to launch the investigation phase of a digital euro (FXE) project." That opening line from a just-released statement is bureaucrat-speak for the ECB is going to create a digital euro. The "investigation phase" is set to last 24 months, after which citizens of the EU can look forward to the complete tracking over pretty much any activity they engage in for their entire lives. The press release does promise that a digital euro will complement cash, not replace it. Naturally, the release throws some shade on Bitcoin (BTC-USD) and energy usage, noting the environmental friendliness of the digital euro vs. the most popular of cryptos. Speaking of Bitcoin, Elon Musk was back at it last night, showing either actual or staged ignorance (one hopes it's the latter). In response to BlueWallet's new Lightning Network application,

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