ECB Focused on Protecting Its Currency, Digital Euro, Says Lagarde — Market Talk

The European Central Bank is focused on protecting its currency and delivering a digital euro rather than the implications of advances in U.S. cryptocurrency legislation, ECB President Christine Lagarde said Thursday. President Trump last week signed legislation that provides a regulatory framework for stablecoins, a type of cryptocurrency pegged to another asset like the dollar. Asked about the implications of stablecoins for monetary policy at a press conference, Lagarde said the ECB is mindful of what's happening elsewhere but focused on "protecting and preserving our currency." The ECB aims to deliver a digital euro as soon as possible. However it won't happen tomorrow, cash is always there and banks will be involved, she said. (renae.dyer@wsj.com)