European Central Bank President Christine Lagarde urged the European parliament to move quickly to provide legislation for the digital euro. She reiterated concerns about monetary sovereignty given the Trump executive order on stablecoins, providing this as context for the need for speed.
When discussing the benefits of the central bank digital currency (CBDC), she promoted the top three as: a free of charge digital payment service, the availability of a digital service in every EU country and the potential to make digital payments offline.
Before last year’s European election, the approval of digital euro legislation seemed inevitable, but the political landscape has changed. The MEP who acted as rapporteur (coordinator) for the legislation stepped aside because his heart wasn’t in it.
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