In contrast, other sources of risk and disruption such as stablecoins, do not come with the same, or as robust, mitigation tools on hand. That is to say, a CBDC would not be the only competition the existing financial sector will face in the future.
For example, in Germany since January  6  See also P. Praet, “Forward guidance and the ECB”, Vox, 6 August 2013; http://www.voxeu.org/article/forward-guidance-and-ecb; and B. Cœuré, “The usefulness of forward guidance”, speech given before the Money Marketeers Club of New York, New York, 26 September 2013; https://www.ecb.europa.eu/press/key/date/2013/html/sp130926_1.en.html.