It is now a fact that more and more people are making profits in cryptocurrency. This applies not only to investors and traders, but also the many people that receive cryptocurrency as payment for their labor.
The European Central Bank has just announced that it has reached the investigative stage of its digital euro project. If successful, the European Union would be the largest economic bloc to implement a Central Bank Digital Currency (CBDC) project. The progress made by the European Central Bank is a step towards a "CBDC era".
The cryptocurrency market is among the biggest unregulated sectors in the globe. Before the coming of digital money, drug dealers were using cash as the main means of making transactions. Now, things have changed a little bit. However, drug dealers still prefer using fiat than cryptocurrencies.
The crypto industry was overlooked by many people for quite a long time until it proved to be a much more lucrative venture than most investments in the other sectors. As such, many people join crypto trading because of the “Fear of Missing Out” (FOMO) effect which only leads to big losses and disappointments.
The European Central Bank Governing Council is advancing the work on the possible issuance and circulation of a digital euro, a type of central bank electronic money that would foil cash, not substitute it. Authorities want people to access and use these two types of money together, to offer greater choice and easier access to means of making payments.