The Association of German Banks, which includes over 200 banks, has issued an official statement according to which, they admit that digital money has great potential that can be a key component "in the next stage of the evolution of digitalization."
The German banks will reportedly play their part in establishing a sustainable and innovative monetary system.
"This requires a European or, better still, a global identity standard. With every form of digital money, customers should be identified using a standard that is just as strict as that which banks and other obligated entities are required to apply under current anti-money laundering rulesm," notes the statement.
Previously a German politician serving as Federal Minister of Finance and Vice-Chancellor Olaf Scholz called for the creation of a digital euro coin.
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The association also highlights digital euro must be a clearly trackable asset.