ECB highlights need for EU tokenized deposit regulation to avoid fragmentation
ECB Executive Board member Piero Cipollone urged EU-level regulation of tokenized deposits to avoid fragmentation. Speaking at a hearing of the European Parliament's ECON committee, he made a forceful case for public sector involvement in wholesale tokenized finance, calling it 'extremely important'. He also began issuing a warning, though the provided text is cut off at that point.
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At the European Parliament hearing, Cipollone warned that without a wholesale central-bank-money settlement asset on DLT, tokenized markets would either stall or migrate to private stablecoins, fragmenting European liquidity.
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