October 22, 2020

European Union Plans Digital Euro Release

European Union Plans Digital Euro Release

A bill published by the European Union suggests that the EU is considering issuing own digital currency.

According to Reuters, the bill -who is still awaiting amendments - calls on EU member states to develop a unified approach to the regulation of cryptocurrencies, as well as a unified approach to the selection and prohibition of risky blockchain projects.

If the current version of the bill is adopted, it may come into force next month.

The project, prepared by the Finnish representative in the EU, is also aimed at the release by the European Central Bank of its own cryptocurrency. The document states:

The ECB and other Central Banks of Europe can explore the prospects and risks associated with issuing their own digital coins, as well as develop concrete steps to solve these problems.

Recall that recently the German Association of Private Banks introduced a document in support of the creation of a European digital currency and a unified standard for their classification in the entire eurozone.

According to the materials cointelegraph.com