REALITY CHECK | The European Central Bank (ECB) Says a Digital Euro is Need to Protect Europe’s Monetary Sovereignty

The European Central Bank should press ahead with a digital euro to prevent fragmentation in Europe’s payments system and preserve the role of central bank money as finance becomes increasingly digital, ECB Executive Board member Piero Cipollone said on Tuesday. Cipollone said Europe risked becoming overly dependent on foreign-controlled payment infrastructure and could see its monetary sovereignty weakened if it failed to provide a pan-European digital payment option. He also warned that tokenised finance could develop across closed and incompatible […]