[Governor of the Bank of Italy: Stablecoins can only play a supplementary role in the monetary system] According to Cointelegraph, Fabio Panetta, Governor of the Bank of Italy, stated that commercial bank money and central bank money will continue to serve as the cornerstone of the monetary system, while stablecoins can only play a supplementary role. He pointed out that the stability of stablecoins ultimately depends on their peg to fiat currency, which limits their ability to operate independently within the financial system. Panetta believes that payments have become a core strategic competitive area for banks; in the context of the global economic focus shifting toward technological power and a more fragmented geopolitical environment, digital finance is putting pressure on banks. The Bank of Italy maintains a cautious stance on stablecoins. The bank's deputy governor previously warned that "multi-issuer stablecoins" issued across multiple jurisdictions could pose legal, operational, and financial stability risks to the EU. Therefore, they should be restricted to regions with equivalent regulatory standards and subjected to strict reserve requirements.