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The legislator, “Sarah Knafo”, asked the European Union (EU) to establish a strategic reserve of Bitcoin and rejected the proposal to adopt the “digital euro”, a central bank digital currency (CBDC), which is being developed by the European Central Bank (ECB).
It should be noted that Knafo, a French judge and member of the European Parliament since June, has on several occasions indicated her support in favor of Bitcoin, asking European legislators to adopt BTC.
“No to the digital euro, yes to a strategic reserve of Bitcoin.” Knafo expressed this in a publication on X, which included a video of his speech before the European Parliament.
In addition, the legislator also noted that it is time to stop the “totalitarian temptations” of the ECB and called for a change from regulatory excess in cryptocurrencies to the adoption of the decentralized nature of Bitcoin.
Currently, Bitcoin is trading at $107,471, accumulating weekly gains of 9%. Source: CoinMarketCap
It is important to note that in his speech, Knafo compared advances in Cryptocurrency regulation around the world, citing the adoption of Bitcoin in El Salvador during 2021 and the “crypto-friendly” agenda of the president’s incoming administration. elected of the United States, Donald Trump.
On the other hand, Knafo also emphasized that the president of the United States Federal Reserve (FED), Jerome Powell, referred to Bitcoin as “digital gold” in early December.
«It is time to change the paradigm, to protect our people from inflation and bad economic decisions. 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. Knafo said.
The regulation of cryptocurrencies in Europe, towards a dystopian future or towards freedom?
Likewise, Knafo noted that Europe has taken a “different approach” toward cryptocurrency regulation, adding that local regulators have focused primarily on regulation, taxation, and stifling innovation.
«We do not want this dystopian world where a European bureaucrat will tomorrow be able to prohibit certain transactions and even eliminate us from the banking system with a click for a simple comment made on social networks or for an opinion that we dislike. “It’s time to bet on freedom.” Knafo expressed.
It is important to note that the ECB has been officially studying the concept of a CBD for more than four years. However, the EU has not yet officially decided to launch a digital euro.
For reference, the European Central Bank published one of its first reports dedicated to a possible digital euro in October 2020, launching a lengthy examination of its possible potential and associated risks.
Since then, European authorities have been struggling to make a decision on a digital euro. This is because many have expressed concerns about its privacy risks and possible threats to private electronic payment companies.
Notably, in February, Piero Cipollone, a member of the ECB’s executive board, promised that the digital euro will have a privacy standard, “higher than that currently offered by commercial solutions.”
“The digital euro should work like cash.” Cipollone expressed.
However, in its latest regulation, the ECB stated that it continues preparations for a possible launch of a digital euro and expects to make a final decision on the matter in October 2025. In addition, the ECB will publish the next progress report on the digital euro during the second quarter of next year.
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