Digital Euro: Key to Managing Crypto Risks, Says Bank of Italy Chief

Fabio Panetta, former Governor of the Bank of Italy and ex-ECB official, argues that a digital euro is essential for controlling risks associated with increasing cryptocurrency adoption. In his latest annual report, Panetta states that the EU must move forward with the central bank digital currency (CBDC) project to ensure financial stability and meet demand for secure digital payments. He emphasizes that regulations alone cannot fully address the systemic risks posed by cryptocurrencies. A CBDC like the digital euro would be key to addressing these systemic concerns.