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Central Banks Need Digital Currencies to Stay Relevant, Nagel Says
Central banks should consider using digital currencies for both wholesale and retail, according to European Central Bank Governing Council member Francois Villeroy de Galhau. “The way we make central bank money available has to be geared to the 21st century to ensure that central bank money maintains its fundamental role: this role is not to be the dominant means of payment, but a stability anchor for the financial system,” the Bank of France chief said. “This is why I believe that, sooner or later, we will need a central bank digital currency for wholesale as well as for retail purposes.” The ECB last year ... (full story)
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