-
“It is time to stop the totalitarian temptations of the ECB,” commented the deputy in a speech.
-
Compare the favorable regulation coming to the US with that coming into force in Europe.
With a series of criticisms of the way in which the regulation of Bitcoin (BTC) and other cryptocurrencies has been proposed in the European Union (EU), French legislator Sarah Knafo calls for the establishment of a strategic bitcoin reserve in the region.
In a speech delivered this December 16, the deputy, who is a judge in France and a member of the European Parliament since last June, rejected the proposal to adopt the digital eurothe central bank digital currency (CBDC) being developed by the European Central Bank (ECB).
“No to the digital euro, yes to a strategic bitcoin reserve,” said Knafo in a publication on X, in which he included the video of his speech before Parliament. The 31-year-old deputy stated that it is time to stop the “totalitarian temptations” of the ECB and called for moving from regulatory excess on cryptocurrencies to the adoption of the decentralized nature of Bitcoin.
The deputy compared the progress that has been made in the regulation of cryptocurrencies around the world, with the rules that apply in the EU, in particular with the Regulation for the Cryptoasset Market (MiCA) that will come into force this December 30.
He also cited the adoption of bitcoin in El Salvador in 2021 and the pro-Cryptocurrency agenda that is expected to come to the United States, with the incoming administration of President Donald Trump.
In that sense, highlighted the success of El Salvadorwhich made bitcoin legal tender three years ago, defying political and financial critics. “Today El Salvador has seen its investment grow by 100%, with hundreds of millions of dollars now available for its people, boosting its security and sovereignty,” he noted.
He even mentioned that US Federal Reserve Chairman Jerome Powell referred to bitcoin as digital gold earlier this December.
On the contrary, he assures that Europe has taken a completely different approach“focusing on taxes and the suppression of innovation.”
It’s time to change the paradigm. It is time to protect our people from inflation and the bad economic decisions of our States. It is time to say no to the totalitarian temptations of the European Central Bank, which wants to impose a digital euro that is completely in its hands.
Sarah Knafo, Member of the European Parliament.
The representative’s call to action was clear: embrace Bitcoin, invest in the Mining industry and protect cryptocurrency holders of excessive taxes. “Let us dare to embrace freedom, stop fearing our own shadow and be faithful to the ideals of civilization,” he concluded.
Knafo joins other bitcoiner voices in Europe
Knafo’s speech bears similarities to that offered at the beginning of this year the parliamentarian Joana Cotar. As CriptoNoticias reported, the deputy also defended the use of bitcoin before the Bundestag (National Parliament of the Federal Republic of Germany) and spoke out against the EU CBDC project.
Cotar developed an educational proposal so that the politicians of his country pay attention and address the issue of bitcoin. It has also been constantly updating a proposal for Germany to adopt BTC as a currency. He hopes that the project enters debate before the parliamentary elections of 2025.
Joana Cotar moves forward with her initiative to make European politicians understand the potential of bitcoin. Source: YouTube/Joana Cotar.
His voice was also heard last July, when he spoke out against the sale of 50,000 bitcoins carried out by the German government. “Can you stop selling bitcoin please?” was Cotar’s requestindicating that With the seized BTC, Germany could create a bitcoin reserve.
The government didn’t listen to his advicewell it ended selling all his possessions in the digital currency. Billions of euros entered the market and influenced the momentary drop in the price of BTC. However, the representative continues her fight for European politicians to understand Bitcoin.
It is a task that They also promote figures like Samson Mowfounder of the Bitcoin-focused company JAN3, who in support of Cotar addressed the German Bundestag last October. They joined forces to push for BTC adoption, thus driving a “hyperbitcoinization” of Europe.
Mow proposed a three-step plan for countries’ adoption of bitcoin, starting with placing it in national treasuries, issuing bonds backed by bitcoin, and declaring it legal tender.
Something similar has been done by Felipe Karađorđević, Prince of Serbia, a self proclaimed bitcoiner who believes that “the monarchy is a good model for the future of bitcoin.”
«Bitcoin is a hard currency and we need a hard currency again. “This fiat world is not working at all,” he said. The Prince also wants to use his voice “to educate the world about the monetary problems we live in because of the fiat system.”
Does MiCA create favorable ground for cryptocurrencies?
The voices calling for the European Union to adopt a more open strategy for cryptocurrencies are raised in a context in which the region prepares for new legislation. A Regulation that has been classified as “pioneering and promising for the eurozone.”
However, there are those who think that the call MiCA Law will bring more problems than solutions due to a supervisory approach that is considered “overly centralized”. This, taking into account that the requests of bitcoiners are aimed more at promoting the use of bitcoin and bringing governments closer to understanding the freedom that digital currency professes. Something that has not yet been seen in the EU, where politicians cling to the development of CBDCs and government control.
“While MiCA legitimizes the crypto ecosystem, it also threatens to introduce consolidation among centralized crypto companies, notes Anastasija Plotnikova, CEO and co-founder of Fideum, an institution-focused Blockchain and regulatory infrastructure company. Hence, it is expected that next year there will be an exodus of companies from Europe to the Middle East and the United States.
At this point, Deputy Knafo He also did not hesitate to criticize the economic policies of the European Union. He accused the EU of mismanaging finances, running up huge deficits and pushing inflationary policies that harm ordinary citizens.
“It is time to protect people from inflation and the poor economic decisions of our States,” he said, urging a change in the current economic system that, in his opinion, is failing the people.
Crypto Keynote USA
For the Latest Crypto News, Follow ©KeynoteUSA on Twitter Or Google News.
