ECB Has 'No Plans' To Issue Digital Currency, Exec Says

Law360, London (September 17, 2018, 6:56 PM BST) -- The European Central Bank has "no plans" to issue its own digital currency because demand for physical cash in the eurozone remains high and there is "no concrete need" for a new form of electronic money, the institution's president has said.

International central banks are closely monitoring virtual currencies, while taking a cautious approach to issuing any themselves, following their prolific rise in popularity over the last year. However, ECB President Mario Draghi said in a letter to a member of the European Parliament that it was unlikely that a digital version of the euro would be developed in the near...

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