What specific role can the ECB as a banking supervisor play in reining in digital currencies? It’s important to stress that we are a supervisor and not regulator. But supervisors can also impose certain requirements in terms of risk mitigation and prudent behaviour.
But by and large, many banks out of their own initiative have already taken clear positions that they will not venture into this gold rush. But that being said, it’s not only the question of the bank supervisor. Also from the monetary policy perspective, the central bank has a mandate to promote sound and efficient payment systems.