Sarah Knafo, a member of the European Parliament, has urged the European Union to rethink its strategy to digital currencies.
She referred to as for the creation of a strategic Bitcoin
$105,414.86
reserve whereas rejecting the “digital euro”, a central financial institution digital forex (CBDC) being developed by the European Central Financial institution (ECB).
Knafo criticized the ECB and warned in opposition to what she described as “totalitarian temptations” related to controlling a digital euro.
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Moreover, Knafo highlighted a press release from US Federal Reserve Chair Jerome Powell, who not too long ago in contrast Bitcoin to “digital gold”.
She additionally talked about El Salvador’s adoption of Bitcoin as a nationwide forex in 2021 and the extra crypto-friendly stance rising in america.
In distinction, Knafo stated Europe has taken a stricter path. As an alternative of encouraging innovation, EU regulators have centered on guidelines, taxes, and restrictions that maintain again progress.
In a latest speech shared on social media, Knafo made her place clear:
No to the digital euro, sure to a strategic reserve of Bitcoin.
Knafo ended her speech by urging lawmakers to prioritize defending residents from inflation and poor financial choices. She argued {that a} decentralized possibility like Bitcoin affords extra safety and freedom than a completely managed digital euro.
“It’s time to change the paradigm”, Knafo stated, calling for a brand new course in Europe’s monetary insurance policies.
Whereas Europe rethinks its strategy to crypto, the US is taking steps to paved the way. Lately, Donald Trump shared his plan to make the US a frontrunner within the crypto trade. What’s Trump’s technique? Learn the total story.
Having accomplished a Grasp’s diploma in Economics, Politics, and Cultures of the East Asia area, Aaron has written scientific papers analyzing the variations between Western and Collective types of capitalism within the post-World Battle II period.With near a decade of expertise within the FinTech trade, Aaron understands all the greatest points and struggles that crypto fanatics face. He’s a passionate analyst who is anxious with data-driven and fact-based content material, in addition to that which speaks to each Web3 natives and trade newcomers.Aaron is the go-to individual for every part and something associated to digital currencies. With an enormous ardour for blockchain & Web3 schooling, Aaron strives to remodel the house as we all know it, and make it extra approachable to finish inexperienced persons.Aaron has been quoted by a number of established retailers, and is a printed writer himself. Even throughout his free time, he enjoys researching the market tendencies, and in search of the subsequent supernova.
