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“The digital euro has nothing to do with crypto assets or stable coins, which are not money”. This is what Fabio Panetta, a member of the ECB Board, said in a speech at the Milano Finanza Digital Week event.
“No private digital payment scheme can guarantee characteristics similar to that of the ECB currency, it is 100% safe. The ECB is the only risk-free institution capable of issuing liabilities ”.
Crypto assets, on the other hand, like Bitcoin, “are high-risk speculative contracts that cannot be used as a means of payment”.
Panetta added that “soon, in mid-July, the Governing Council of the ECB will decide whether to launch a real project on the digital euro”.