ECB's Cipollone cites retail deposit loss in latest rejection of euro stablecoins

AI Summary At a gathering of Italian cooperative bankers on Friday, July 17, European Central Bank (ECB) board member Piero Cipollone reiterated a long-held anti-stablecoin sentiment position at Europe’s apex bank. This time, Cipollone’s argument against allowing euro stablecoins to circulate freely across the Old Continent was that such a scenario would thin out the retail deposits... fulltext: 377 chars | fulltext source: rss-fallback | summary method: extractive Original: https://www.cryptopolitan.com/ecb-stablecoins-will-drain-bank-deposits/ Source: CryptoPolitan