๐ฆ๐ถ ๐๐ข๐ ๐ข๐ญ๐๐ฅ ๐๐ฎ๐ซ๐จ ๐ข๐ฌ ๐ญ๐ก๐ ๐๐๐ฌ๐ญ ๐๐๐ฒ ๐ญ๐จ ๐๐๐๐ฉ ๐๐ซ๐ฒ๐ฉ๐ญ๐จ ๐๐๐๐, ๐๐๐ฒ๐ฌ ๐๐๐ง๐ค ๐จ๐ ๐๐ญ๐๐ฅ๐ฒ
Europeโs Bank of Italy chief, Fabio Panetta, says that just making crypto rules is not enough to keep people safe.
โฌ๏ธ He believes the digital euro โ a digital version of Europeโs money issued and backed by the central bank โ is the best way to protect everyone from cryptocurrency risks.
โฌ๏ธ Even though Europe introduced new crypto laws called MiCA last year, these rules havenโt stopped risky stablecoins or crypto platforms, especially those based outside Europe with weaker regulations.
โฌ๏ธ Many Europeans still face dangers from foreign crypto companies that donโt follow strong safety rules or are not transparent about their operations.
โฌ๏ธ Panetta warns that relying only on regulations wonโt fully protect investors or the financial system from these risks.
โฌ๏ธ The digital euro can offer a safe, trusted digital currency that people can use for fast, secure payments while keeping the financial system stable.
โฌ๏ธ It would also help Europe compete with the growing influence of other stablecoins like those pegged to the US dollar, which now dominate the market.
โฌ๏ธ Simply put: Europe needs its own reliable digital money to manage crypto risks effectively and keep the economy safe in the digital age.
This shows why the digital euro matters more than just rules when it comes to protecting people and the financial system from crypto risks.
