The digital euro
EU finance ministers to consider legislative proposal for the release of a public digital currency and unified regulation of the crypto market.
In the text of the preliminary version of the document, the countries included in the block are invited to develop a common approach to cryptocurrencies, including the possibility of banning high-risk projects. EU finance ministers can discuss this project on Friday, which will allow it to be adopted at the next meeting on December 5.
The main provisions of the bill relate to the issues of strengthening the regulation of cryptocurrencies throughout the European Union, which may contribute to toughening countries’ policies in relation to them. In addition, the text of the document invites the ECB and other EU central banks to study the prospects for issuing their own digital currencies, including by considering specific steps in this direction..
However, in the future, the possibility of making amendments and changes to the existing edition is not excluded..
This bill became a consequence of the fact that many EU countries expressed their negative attitude to Facebook’s plans to release Libra, and the French government and Germany supported the development of their own alternative.
text: Ivan Malichenko, photo: theconversation