show
show
Witnessing the digital breakthrough

Italian Banks Ready To Test Digital Euro

22 June 2020 16:04, UTC
Italian Banks Ready To Test Digital Euro
By Anna Martynova

The Italian Banking Association (ABI), which includes more than 700 Italian banking institutions, expressed its intention to help accelerate the implementation of the digital currency supported by the ECB by participating in relevant projects and experiments. Last year, the association created a working group to research digital assets.

The working group expressed the opinion that in the case of the digital euro implementation, it is important to maintain the stability of monetary policy and full compliance with the European regulatory framework. Compliance with EU regulations is a top priority for digital currency in order to gain public confidence.

21.05.2020  |   in Legislation
Italy is not the first country interested in the project; earlier this year France announced the successful testing of CBDC. The central bank of the Netherlands has also expressed the willingness to take part in CBDC testing. Last year, the head of the Central Bank of Germany said that CBDC could destabilize the country's financial system, but already this year the German Banking Association made a statement in favor of the digital euro.

Image courtesy of Vocal Europe



Read the best crypto news analysis here! bitnewstoday.com Bitcoin, investments, regulation and other cryptocurrencies
Found a mistake? Select the text and press CTRL+ENTER
Leave a comment
Leave a comment
Report a mistake