The European Union has presented legislative plans related to the digital euro, the development of which has been working hard for several years. According to official statements, EU citizens should be able to make digital payments within the entire monetary zone for free.
The EU presents new proposals for the digital euro
Yesterday, the European Commission presented legislative proposals to support the creation and use of the digital euro. The main message was that it would guarantee the possibility for Europeans to pay digitally across the entire currency zone without any cost.
In its statement, the Commission highlights that it will enable EU citizens to obtain the digital euro on demand through their banking institutions. The aim of these actions is to increase the digitization of the economy, as stated in the official text:
In order to adapt to the growing digitization of the economy, the European Central Bank (ECB), like many other central banks around the world, is exploring the possibility of introducing a digital euro as a complement to cash. The digital euro would provide consumers with an alternative European payment solution in addition to the options that exist today. This means more choices for consumers and a stronger international role for the euro.
European Commission he states in his post that the digital euro should be complementary to cash. The draft legislation also focuses on several key areas, including the provision of free basic digital services in euros, the protection of personal data and the ability to make offline payments.
At the same time, the European Commission presented a proposal that favors the sharing of customer data between banks, insurance companies and funds and fintech companies. The official document states, among other things, that the digital euro can help in innovation, allowing banks to provide new solutions to their clients.
The biggest pioneer in the field digital currencies issued by central banks (CBDCs) is China, which is already rolling out the digital yuan across the country. In addition to Europe, the United States of America has also shown its digitization efforts through the digital dollar.
At the time of writing, the price of BTC is around USD 30,430 according to KMC.
Conclusion
What do you think about digital currencies issued by a central bank? What is your opinion on the digital euro? Share with us in the comments or on our official server KRYPTOMAGAZIN CZ, where you will also find other interesting content. You can see the entire report of the European Commission under the attached link HERE. [1]
2023-06-29 16:00:13
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