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Amnasindhu

06/23 13:03

The digital euro takes a massive step forward afte

#TradFi Trading Strategies Sharing Challenge #BTC Prophet: 20-Day 380 Million HTX Challenge #HTX Invites You to Share 600K USDT in Gift Packs The digital euro takes a massive step forward after winning a crucial European Parliament voteThe European Central Bank (ECB) scored a major victory after the European Parliament’s influential Economic and Monetary Affairs (ECON) committee voted to approve the legal framework for a digital euro on Tuesday. The committee also directly mandated the immediate start of final "trilogue" negotiations between European Union (EU) member states and the Parliament to hammer out the final law. The vote ends three years of intense confrontations between central bankers and commercial lenders concerned over losing deposit revenue. The main goal behind the deployment of a central bank digital currency (CBDC) is not just about modernizing payments, but to maintain the bloc’s autonomy of the monetary system. ECB Christine Lagarde has long-argued in favour of a CBDC to stave off the U.S. dollar-pegged stablecoin dominance in Tether’s USDT and Circle’s (CRCL) USDC. Lagarde pushed back against public concerns over financial surveillance, asserting that cash isn't going anywhere, adding that between the digital euro and physical banknotes, "one does not exclude the other." The EU has also pointed to nearly two-thirds of all card transactions in the eurozone being processed by non-European companies, mainly Visa (V) and Mastercard (MA).
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