Eurogroup, the body comprised of European finance ministers, said the introduction of a digital euro requires political decisions that should be discussed and taken at the political level.
Paolo Gentiloni says a series of international agreements may be needed to stop state-backed digital currencies from infringing on countries' sovereignty.
Authorities in the EU, U.S. and other jurisdictions need to compare notes on central bank digital currencies to regulate them better, according to the ECB chief.
A system that builds on existing interbank settlement infrastructure instead of one based entirely on DLT can be implemented "more rapidly" according to ECB executive board member Fabio Panetta.