Sara Knafomember of the European Parliament, has urged the The European Union will rethink its approach to digital currencies.
She called the creation of a strategic Bitcoin
btc
$106,865.85
reserve while rejecting the “digital euro”, a central bank digital currency (CBDC) developed by the European Central Bank (ECB).
Knafo criticized the ECB and warned against what he described as “totalitarian temptations” associated with controlling a digital euro.
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Additionally, Knafo highlighted a statement from the US Federal Reserve. Chairman Jerome Powell, who recently compared Bitcoin to “digital gold”.
she too mentioned El Salvador’s adoption of Bitcoin as national currency in 2021 and the A more cryptocurrency-friendly stance is emerging in the United States..
By contrast, Knafo said Europe has taken a stricter path. Instead of encouraging innovation, EU regulators have Focused on rules, taxes and restrictions that slow progress..
In a recent speech Shared on social media, Knafo made his position clear:
No to the digital euro, yes to a strategic reserve of Bitcoin.
Knafo ended his speech by saying urging lawmakers to prioritize protecting citizens from inflation and poor economic decisions. She argued that a decentralized option like bitcoin offers more security and freedom than a fully controlled digital euro.
“It is time to change the paradigm,” Knafo said, calling for a new direction in Europe’s financial policies.
As Europe reconsiders its approach to cryptocurrencies, the United States is taking steps to lead the way. Recently, Donald Trump shared his plan to make the United States a leader in the cryptocurrency industry. What is Trump’s strategy? Read the full story.
Having completed a master’s degree in Economics, Politics and Cultures of the East Asian region, Aaron has written scientific articles analyzing the differences between Western and collective forms of capitalism in the post-World War II era.
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