While some central banks - including the European Central Bank - around the globe are exploring digital versions of their own fiat currencies, cryptos still show no signs of benefiting society or the broader economy, Bloomberg cites European Central Bank Executive Board Member Fabio Panetta in a lecture. "There is no sign that crypto-assets have performed, or are performing, socially or economically useful functions," he said. "They are not generally used for retail or wholesale payments, they do not fund consumption or investment, and they play no part in combating climate change." Meanwhile, Bitcoin (BTC-USD) is slightly higher in the past 24 hours, now changing hands at $48.3K per token. In mid-September, ECB's Hens Weidermann said the digital euro launch should be a gradual approach.
