Electronic money is a form of digital currency that uses passwords for security purposes. Money has quickly become popular in the public eye. There are many types of electronic money including Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, Cardano, and Stellar Lumens.

While banks are against electronic money, they have amazing benefits over conventional currencies. Banks often criticize the volatility of the currency and their potential for money laundering.
The speed with which e-money has been growing over the past few months has made banks desperate. These are the main reasons that bankers fight against electronic money