Some have attained patchy acceptance – the largest at present, bitcoin, is accepted by some retail outlets. But on a global scale these outlets remain small in number, and hardly any actual transactions take place. 1/5  BIS central bankers' speeches  On a daily basis, there are around 200,000 bitcoin transactions globally, compared with 330 million retail payments in the euro area.
This means we have to start right away and be determined and tenacious, focusing on what really matters from a long-run perspective. At EU level, decisive political will to move forward with the completion of the banking union is required. In the absence of this will, Europe must revisit its existing rules to safeguard financial stability.