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Bank of Italy Governor Fabio Panetta argues that the digital euro is essential to managing crypto risks, as MiCA regulations alone fall short. He emphasizes the need for a central bank digital currency (CBDC) to ensure financial stability and secure digital payments.
- MiCA regulations have had limited success in promoting compliant stablecoins, increasing the need for a digital euro.
- Fabio Panetta warns that crypto regulation alone cannot mitigate systemic risks posed by cryptocurrencies.
- The digital euro is positioned as a vital instrument for financial stability and secure digital payments in the EU.
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Related Tags: Markets in Crypto Assets (MiCA)
Other Tags: Bank of Italy, European Union