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Finance: Savona Sounds the Alarm: "a Digital Euro Is Needed Now to Combat the Onslaught of stablecoins." - Agenzia Nova
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Now there's awareness. Consob President Paolo Savona's hearing on stablecoins before the Commission of Inquiry into the Banking System was clear. "Cryptocurrencies circumvent anti-money laundering regulations and create systemic risks," Savona said. "We must respond with a digital euro backed by a state guarantee and a competitive ECB safe asset." The risk is the migration of Italian savings—over €6 trillion, three times the GDP—to private dolla…
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