Odaily Planet Daily reports that Marco Elio Rottigni, General Manager of the Italian Banking Association (ABI), stated at a press conference that Italian banks support the European Central Bank's (ECB) plan to introduce a digital euro (CBDC), believing it "embodies the concept of digital sovereignty." The ECB currently anticipates the project's launch in 2029. However, the ABI is requesting that the banks' required upfront capital expenditures be spread over a longer period to address the high costs. Rottigni also stated that to avoid Europe falling behind in this area, they favor a "dual approach" of central bank digital currencies and commercial bank digital currencies operating in parallel. (The Block)