Digital Euro Proposed as Solution to Cryptocurrency Risks in Europe

According to Cointelegraph, Fabio Panetta, former European Central Bank official and Governor of the Bank of Italy, has emphasized the importance of the digital euro in managing the risks associated with the increasing adoption of cryptocurrencies. In his concluding remarks on the state of the economy, presented in the Bank of Italy's annual report released on May 30, Panetta highlighted the necessity for the European Union to advance the central bank digital currency (CBDC) project to ensure financial stability and meet the demand for secure digital payments. Panetta cautioned against relying solely on regulations to control the evolution of crypto-assets, stating that rules and restrictions alone cannot mitigate the systemic risks posed by cryptocurrencies. He argued that the digital euro would be crucial in addressing these challenges source: https://www.binance.com/en/square/post/24942608897649?utm_source=BinanceNewsRSS