TechFlow news, January 21 — According to Cointelegraph, Fabio Panetta, Governor of the Bank of Italy, emphasized on Wednesday during a meeting of the Executive Committee of the Italian Banking Association that stablecoins can only play a supplementary role in the monetary system, as their stability fundamentally relies on their peg to fiat currencies. Panetta stated that the future monetary system will be supported by digital commercial bank money and central bank money, rather than being dominated by privately issued crypto assets. He also warned that amid increasing geopolitical fragmentation, payment systems have become a strategic battleground for banks, and technological capabilities are reshaping the global economic landscape.
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