tldrdaily.news logo
Tag

Digital Euro

All articles tagged with #digital euro

Europe eyes strategic autonomy as it trims US dependencies
world24 days ago

Europe eyes strategic autonomy as it trims US dependencies

The EU is accelerating efforts to reduce dependence on the United States across technology, energy, payments, and defense, framing the move as 'de-risking' rather than decoupling, while the U.S. remains Europe’s largest trading partner and NATO’s security guarantor for now. Brussels is pursuing European tech substitutes, diversifying energy suppliers (Canada, Qatar, North Africa), advancing the digital euro, and strengthening EU defense planning and 'Buy European' rules to bolster strategic autonomy.

via politico.eu|
#de-risking#digital-euro#energy-diversification
EU Ministers Seek Consensus on Digital Euro Amidst Debates and Controversies
finance5 months ago

EU Ministers Seek Consensus on Digital Euro Amidst Debates and Controversies

The digital euro, a proposed virtual version of the euro backed by the ECB, aims to modernize payments and reduce reliance on foreign tech giants, but faces significant political and legislative hurdles in Brussels, with debates over privacy, banking industry impact, and legal framework likely delaying its implementation until at least 2028.

via politico.eu|
#central-bank-digital-currency#digital-euro#ecb
Challenges and Changes Ahead for Europe's Digital Euro Initiative
financial-services1 year ago

Challenges and Changes Ahead for Europe's Digital Euro Initiative

Stefan Berger, a German MEP and critic of the digital euro project, has resigned from leading the European Parliament's work on the initiative to avoid suspicions of deliberately delaying the legislation. The digital euro aims to enhance eurozone payments and reduce reliance on foreign providers, but faces resistance, particularly from German banks and citizens concerned about its impact on savings and privacy. Berger's resignation opens the way for a new leader to advance the project, with potential candidates including former Spanish central banker Fernando Navarrete Rojas.

via POLITICO Europe|
#digital-euro#european-central-bank#european-parliament
Lagarde's Son's Crypto Loss: ECB Chief's Admission
cryptocurrency2 years ago

Lagarde's Son's Crypto Loss: ECB Chief's Admission

European Central Bank President Christine Lagarde admitted that her son lost "almost all" of his investments in crypto assets, despite her warnings against them. Lagarde has been critical of cryptocurrencies, considering them speculative and often used for illicit activities. The ECB has called for global regulation of crypto assets to protect consumers and prevent funding for terrorists or money laundering. The bank is currently in the preparation phase for its own digital euro project, but it will take another two years before a decision is made on its rollout. Lagarde emphasized her low opinion of cryptocurrencies and the need to prevent participation in criminal activities.

via Reuters|
#christine-lagarde#crypto-assets#crypto-investments
finance2 years ago

Central Bank Digital Currencies: Evaluating Their Value

The European Central Bank's move towards launching a digital euro has put the spotlight on central bank digital currencies (CBDCs) and their potential benefits. While CBDCs are seen as a way to modernize payments and provide an alternative to physical cash, questions remain about their advantages and concerns about privacy and cyber security. The ECB's pilot program could serve as a global blueprint, but the success of CBDCs will depend on addressing these issues and proving their worth in the financial system.

via Yahoo Finance|
#central-bank-digital-currencies#digital-euro#european-central-bank
Eurosystem Advances Digital Euro Project, Overcoming Privacy Concerns
finance2 years ago

Eurosystem Advances Digital Euro Project, Overcoming Privacy Concerns

The European Central Bank (ECB) has announced the start of the preparation phase for the digital euro project, following the conclusion of a two-year investigation phase. The preparation phase will focus on finalizing the rulebook and selecting providers to develop the platform and infrastructure for a potential digital euro. The ECB envisions the digital euro as a widely accessible form of digital cash that offers high privacy, instant settlement, and can be used for various transactions. The preparation phase will last for two years, after which the Governing Council will decide whether to proceed with the issuance and roll-out of a digital euro. The launch of the preparation phase does not guarantee the issuance of a digital euro, as the decision will depend on the completion of the European Union's legislative process.

via European Central Bank|
#digital-euro#european-central-bank#eurosystem
EU Introduces Digital Euro Bill with Privacy Controls and Offline Guarantee
cryptocurrency2 years ago

EU Introduces Digital Euro Bill with Privacy Controls and Offline Guarantee

The European Commission has published its legislative plans for a digital euro, which aims to ensure free digital payments across the currency zone while incorporating privacy safeguards and financial stability measures. The potential benefits of the central bank digital currency (CBDC) are being questioned by stakeholders, including lawmakers, governments, and commercial banks. The European Central Bank (ECB) will decide in the fall whether to proceed with the next phase of the project. The proposed law also includes provisions for offline use and privacy equivalent to cash, while prohibiting restrictions on the goods that can be purchased with the digital euro.

via CoinDesk|
#central-bank-digital-currency-cbdc#cryptocurrency#digital-euro
"EU Implements Digital Overhaul with Leaked Bill and Schengen Visa Online Procedures"
cryptocurrency2 years ago

"EU Implements Digital Overhaul with Leaked Bill and Schengen Visa Online Procedures"

The European Commission is set to propose a draft law on June 28 that would ban paying interest or surcharges for using a digital euro. The proposed central bank digital currency (CBDC) would have to be available for offline payments from day one, and users shouldn’t be able to program it to limit onward use. The level of privacy for offline, face-to-face use should be “comparable” to withdrawing banknotes at an ATM. The EU is one of several jurisdictions worldwide considering whether to issue fiat currency in digital form.

via CoinDesk|
#cbdc#cryptocurrency#digital-euro