European Parliament | Crypto

European lawmakers endorsed the ECB’s digital euro plans as a way to shore up the bloc’s monetary sovereignty, while reiterating that the central bank must remain independent. The European Parliament threw its weight behind the European Central Bank’s (ECB) digital euro project in a vote that framed money and payments as a strategic asset in an era of rising geopolitical tensions.  Lawmakers adopted the annual ECB report by 443 votes in favor, 71 against and 117 abstentions, backing amendments that describe the digital euro as “essential” to strengthening European Union monetary sovereignty, reducing fragmentation in retail payments and bolstering the integrity of the single market.  The text places growing emphasis on how public money in digital form can curb Europe’s reliance on non‑EU payment providers and private instruments. Read more

Bitcoin-friendly European Parliament Member Sarah Knafo says Europe is still at the beginning of the digital revolution, which will help it compete with economies like China and the US. The European Parliament is set to vote on a technology sovereignty proposal submitted by the Committee on Industry, Research and Energy (ITRE) under the leadership of pro-Bitcoin lawmaker Sarah Knafo. ITRE, one of 24 standing committees in the European Parliament, on June 3 adopted a non-binding report on tech sovereignty and digital infrastructure, calling for a European policy for the digital ecosystem. The proposal highlights concerns that Europe is falling behind the United States and China in strategic sectors such as the cloud, cybersecurity, artificial intelligence, semiconductors and communication infrastructure. Read more