European lawmakers call for rejecting the digital euro! They urge to follow the example of El Salvador and the United States to establish a BTC reserve

European Parliament French member Sarah Knafo delivered a speech in the parliament on 12/16, calling for the EU to establish a BTC strategic reserve and strongly opposing the 'Digital Euro' (CBDC) being prepared by the European Central Bank (ECB). She believes that the EU is currently overly focused on regulation and taxation, to the extent of overlooking the innovative potential of cryptocurrency.

Emphasize financial freedom and oppose the 'authoritarian digital euro'

Knafo directly criticized the European Central Bank (ECB) for promoting the digital euro (CBDC) as having a "tendency towards authoritarianism," seemingly excessively interfering with individual financial freedom. She said, "We do not want to live in a bureaucratic world where certain transactions can be banned with the press of a button, or where people can be excluded from the financial system based on untimely social media comments, creating a dystopian world."

She further stated that the EU should break away from the current regulatory-centric thinking and instead adopt decentralized technologies like BTC to safeguard people's freedom and counteract inflation and improper government economic policies.

Call for alignment with El Salvador and the United States

Knafo bluntly stated in his speech that other countries have already taken the lead, for example, El Salvador adopted Bitcoin as legal tender in 2021, and the US President-elect Trump is also actively formulating cryptocurrency-friendly policies.

She also mentioned that Jerome Powell, the Chairman of the Federal Reserve, referred to BTC as 'digital gold' in early December, further affirming the value of BTC. In contrast, Knafo criticized Europe's current direction, focusing only on regulation and taxation, completely suppressing the innovative development of the encryption industry.

(Powell: BTC is like digital gold, not worried about the Fed losing independence)

ECB plans to determine the fate of the digital euro in 2025

The European Central Bank started researching the digital euro (CBDC) as early as 2020, and spent more than four years analyzing the potential and risks of CBDC. However, the European Union has not yet decided whether to introduce the digital euro.

According to the latest plan of the ECB, preparations will continue to be made for the launch of the digital euro, and a decision is expected to be made in October 2025. However, controversies regarding the privacy risks and threats to the payment industry that the digital euro may bring are still sparking intense discussions within Europe.

(European Central Bank President: Digital Euro will still need at least two years)

This article European legislators call for rejection of digital euro! Call for alignment with El Salvador and the United States to establish BTC reserves first appeared on Chain News ABMedia.