Christophe De Beukelaer, President of Les Engagés Bruxelles Party, expressed concerns regarding the European Central Bank's (ECB) development of a digital euro. He described it as unnecessary and problematic, suggesting it is a reaction to the U.S. approach to cryptocurrency technology. The statement was made on X.
"After demonizing Bitcoin and cryptos, thus preventing € stablecoins from emerging, the ECB is panicking in the face of the $, which, on the contrary, is embracing this new tech," said De Beukelaer. "To cover up this mistake and this blindness, it is inventing the digital euro, which is useless, costly, and dangerous waste."
Recent policy developments have seen the ECB transition from an investigation phase to a preparation phase in 2024 for the digital euro. The ECB aims to provide a secure digital currency option that complements cash while enhancing financial sovereignty within the European Union (EU). According to the ECB, ongoing debates among EU policymakers focus on privacy, security, and potential impacts on banks. The ECB emphasizes that the digital euro is crucial for maintaining monetary autonomy and public trust in an increasingly digital economy.
Christophe De Beukelaer, President for Les Engagés Bruxelles Party
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