Yugocean
Valued Contributor
The European Union is preparing to launch a digital version of the common European fiat monetary project "Euro".
For this, the executive branch of the union will hold a consultation in March this year.
Establishing the legal basis for the digital euro would require a new legislation, the new law is proposed to be drafted in the year 2023.
This should come as no surprise because always "Necessity is the mother of invention".
Now that cryptocurrencies are in full swing around the world, with several countries rolling out their own CBDCs to deal with it, the European Union cannot afford to be left behind in this new economic technology.
Apart from this, digital currency can also replace traditional paper currency, which is probably one of the reasons for the spread of coronavirus Covid-19.
For this, the executive branch of the union will hold a consultation in March this year.
Establishing the legal basis for the digital euro would require a new legislation, the new law is proposed to be drafted in the year 2023.
This should come as no surprise because always "Necessity is the mother of invention".
Now that cryptocurrencies are in full swing around the world, with several countries rolling out their own CBDCs to deal with it, the European Union cannot afford to be left behind in this new economic technology.
Apart from this, digital currency can also replace traditional paper currency, which is probably one of the reasons for the spread of coronavirus Covid-19.
