LONDRA (UKREGNO) (ITALPRESS) – “The frontier of payments is constantly moving: cash is used less and less and also credit cards are becoming obsolete, in favor of electronic instruments. The expansion of digital payments forces the institutions to discuss more and more frequently how to regulate this sector.” Marika Cioffi, Head of the Delegation of the Bank of Italy in London, intervened at the Italian Symposium 2026, organized by Italian students enrolled in the British universities.
“There is a Copernican revolution in the way of moving money – he explains. Electronic payments are already prevalent in many countries and cryptocurrencies, now amount to over three thousand billion dollars, with vertical growth in these years. Cryptocurrencies are changing the nature of money. This requires modernization of monetary management by central banks.”.
These developments have an impact on the European currency: “We are in the 21st Century but the money of central banks remained in the 20th Century. It increases the need to have the digital euro to extend the benefits of currency through offline availability, reduced fees for traders, greater privacy and protection of the role of public money as a guarantor of trust and stability at the heart of the financial system.”.
In terms of cybersecurity, “the European Union is working on a Regulation to improve security in the financial sector, also looking at the privacy and security of electronic transactions.”.
-Photo f51/Italpress-
(ITALPRESS).
