Cryptocurrencies
ECB’s Jens Weidmann Says Banks Shouldn’t Be Cosseted in Digital Money Plans
- CBDC could weaken bank funding source by substituting deposits
- Banks shouldn’t be treated as endangered species, he says
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Central banks planning to issue digital versions of their currencies mustn’t treat commercial financial institutions as “endangered species” that can’t handle competition, according to European Central Bank Governing Council member Jens Weidmann.