European Commissioner hopes to protect sovereignty with digital euro
European Commissioner urged to prevent the emergence of non-European digital currency
There is still no final decision on the release
Earlier, the ECB initiated public consultations on the issue of the digital euro
International consortium of news organizations developing transparency standards.
European Commissioner for Economic Affairs insists on protecting Eurozone’s monetary sovereignty by creating a digital version of the euro
European Commissioner for Economic Affairs Paolo Gentiloni at a meeting of the Council of Finance Ministers of the Eurozone countries called for protecting the monetary sovereignty of the union with the help of the digital euro. Writes about this edition “PRIME”. According to the European Commissioner, the union should not allow the dominance of a “non-European” virtual currency in money circulation in the era of global digitalization.
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“The digital euro is needed in the future because the European economy is going through digitalization, and fewer cash payments are being made. We must protect our monetary sovereignty, “Gentiloni said..
The European Commissioner also noted that the European Commission is ready to further develop the digital euro in cooperation with the European Central Bank (ECB). Gentiloni also recalled that there is still no final decision regarding the digital version of the single currency..
In early November, the head of the ECB Christine Lagarde invited everyone to express their opinion on the project to launch the digital euro. In her official Twitter account, the head of the ECB wrote that the monetary authorities of the euro area are “exploring the possibility of launching a digital euro.” In this regard, she officially brought up the draft of the digital currency of the central bank (CBDC) for public discussion, and invited everyone to accept the new financial instrument – the digital currency of central banks (CBDC). participation in the survey.
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The first reports of the creation of a digital euro appeared back in September 2020. Then Lagarde, speaking at the Deutsche Bundesbank online conference on banking and payments in the digital world, acknowledged that the EU countries need a digital version of the single currency. At the same time, Europe will develop a regulatory framework in which all cryptocurrency-oriented companies will be required to obtain special crypto passports. What exactly is the essence of such crypto passports and who will regulate them remains unknown..
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