The declining use of cash also raises the question of the future of public money. That is why the ECB, as well as other central banks, are currently investigating a Central Bank Digital Currency, a CBDC, as a new, additional, way to make central bank money available to the public. Without, of course, the intention of crowding out private alternatives.
Looking at cryptos and stablecoins, I want to underline the cross-border nature of the cryptospace. Several jurisdictions have started setting up regulation, and it is important that we discuss this at an international level to avoid regulatory arbitrage.