Reasons for Abandoning Crypto Euro
The representative drew attention to the increasing doubts about the value of the digital euro among legislators. He notes that a political solution must be reached for the issue. However, in such a situation, the ECB can give a reaction. If this call is made at the political level, the regulator will not be able to issue a digital euro on its own.
He noted the need for the adoption of new bills to consolidate the status of a means of payment for the digital euro. The representative also drew attention to a study by the Central Bank, which states how important it is for citizens to use the national digital currency in any place.
He explained that the regulator wants to be sure that there will be a system everywhere that ensures the security and efficiency of payments at minimal costs.
According to Panetta, at the moment, the possibility of granting access to the asset for 5% of citizens who have or plan to open a bank account is being studied. At the same time, it is planned to verify customers with the help of various intermediaries: postal branches, online mode, etc.
