🇮🇹 Italian central banker Piero Cipollone defended his digital euro plans at a hearing on Monday and is seeking approval to replace CBDC expert Fabio Panetta at the European Central Bank (ECB). Cipollone stated that the digital euro will "strengthen the ability to make payments with public money across Europe with Europe-centric technology and infrastructure." It also promised "perfect solutions" for offline functionality, accessibility and privacy protection.

📈 Although Cipollone acknowledged that blockchain innovations bring "significant risks", he stated that CBDC's challenges on financial stability and credit can be managed by imposing holding limits on citizens. Cipollone's 8-year term was approved by euro zone finance ministers and the ECB, making his elevation to the position almost certain.

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