October 28, 2020

The European Union will consider a bill on the issue of digital euro

The European Union will consider a bill on the issue of digital euro

EU finance ministers will consider a legislative proposal to issue a public digital currency and a unified regulation of the cryptocurrency market.

In the text of the preliminary version of the document,The block countries 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 5th.

The main provisions of the bill relate to issues of strengthening the regulation of cryptocurrencies throughout the territory of the European Union, which may contributetoughening countries' policies regarding them. In addition, the text of the document, the ECB and other central banks of the EU are invited to study the prospects of 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 ruled out.

This bill was a consequence of the fact thatmany EU countries expressed their negative attitude to Facebook's plans to release Libra, and the governments of France and Germany supported the development of their own alternatives.

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