But regulation will not turn risky instruments into safe money. Instead, a stable digital finance ecosystem requires well-supervised intermediaries and a risk-free and dependable digital settlement asset, which only digital central bank money can provide. Annexes 7 December 2022 Slides    ENGLISH  1.
I would like to thank Cyril Max Neumann, Patrick Papsdorf and Jean-Francois Jamet for their help in preparing this speech and Alessandro Giovannini, Antonella Pellicani, Pedro Bento Pereira Da Silva, Mirjam Plooij, Anders Ryden, Jürgen Schaaf and Anton Van der Kraaij for their input and comments. 2.