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Banks "barking up the wrong tree" over CBDC deposit flight says ECB
The European Central Bank says banks are "barking up the wrong tree" when they fret over the impact of deposit flight from a future digital euro, arguing instead that stablecoins and electronic money institutions pose more of a threat to the deposit base. In a blog post, the ECB is at pains to debunk a number of myths about the role of a future digital euro, insisting that the new digital currency would be designed from the outset to preserve the economic function of commercial banks. It achieves this by placing strict limits on individual digital euro holdings and restricting merchants from hoarding digital ... (full story)