ECB Executive Board: Currently studying the possibility of introducing digital currency

According to Reuters, European Central Bank Executive Board Benoit Coeure said today that the European Central Bank is currently studying the possibility of introducing digital currencies, but this will have a wider impact on banks. Coeure also noted that central banks should not crowd out private sector players. The European Central Bank recently introduced an instant payment system called TIPS for transactions between banks, but the plan has so far been slow. Coeure added that new digital currency plans (such as stablecoins) that try to fill this gap can also cause problems because they are untested and create legal uncertainty.