At this week’s Eurogroup meeting, an informal institution that brought together the EU’s economic and fiscal ministers was discussed about the “urgent need” of the European Central Bank (CBDC) digital currency in the region.
As the conference’s conclusions point out, in the context of US President Donald Trump hoping to expand the stables of dollars around the world, “the digital euro has become very important.”
With this they reaffirm the idea of CBDC beyond the user’s interest It’s a strategic solutionNot only will it compete with private stubcoins promoted from the US, but it will also be a way to modernize the European financial system. Strengthen the financial sovereignty of the eurozone.
They guarantee that stabrocoins linked to dollars such as USDT and USDC are an increasing threat to European monetary sovereignty.
Are willing to fix Mica to face Trump
In the case of the Eurogroup, if a stable currency, known as the dollar, becomes the main vehicle of payment for the European Central Bank (ECB) It will lose its impact on monetary policy.
For this reason, Crypto Market Regulation (MICA) rules include sovereignty protection, limiting the ridiculous scope of foreigners for daily payments. Guidelines already in circulation in Europe To the most popular stables on the market: USDT.
But the Minister is thinking about that The threat still exists, It is now under the leadership of Donald Trump, primarily due to the shift in the US government in favour of the Bitcoin Ecosystem (BTC).
This is a problem that particularly concerns Pierre Gramegna, general director of the European Stability Mechanism (MEDE), a Luxembourg-based intergovernmental organization.
The US government’s position on this issue (cryptocurrency) has changed regarding the past. Furthermore, the US government is favored by cryptocurrencies, particularly stable currencies called the dollar, which could generate some concern in Europe.
Pierre Gramánjana and director Medes.
In that sense, the fear that the American tech giant will revive plans to launch a massive payment solution among European authorities.
They refer to the failed Libra project (then DIEM) of Facebook (now target) announced in 2019. He was a torpedo to regulators around the world.
Given these possible threats, they evaluate the various tables of salvation that they can rely on.
«MEDE will support the urgency of the European Central Bank to realize the digital euro to protect Europe’s strategic autonomy. The digital euro is needed more than ever,” concludes Gramggna.
The idea was supported by Paschal Donohoe, Ireland’s Finance Minister and President of the Eurogroup.
So they think of it They cannot be indifferent The changes that Trump is creating in the US ecosystem.
The fear is enough to support the initiatives being raised within the European Commission. Check MICAbelieves their guidelines “may be key to countering the effects they have analyzed.”
This means European authorities They are happy to make corrections With regulations that just came into effect this year.
The digital euro next to Mica is a glimpse into the exit to combat the situation.
Therefore, they are joining Christine Lagarde, a recent call made by the ECB president, insisting on accelerating the process of launching CBDC.
Reported Cryptootics, Lagarde Expressing concerns about delays It is presented in a scheduled work schedule, particularly in relation to adaptation of legal frameworks.
Therefore, summon all stakeholders (European Parliament, Council of Europe, European Commission) to accelerate the legislative process.
and Hard Form Bitcoin’s global regulations
But Europe is struggling to move forward with the CBDC, checking the mica laws and using it as a weapon against policy in favor of US cryptocurrencies and stable absurd things. Trump accelerates races and displays sector red carpets.
The President will post Pro Bitcoin figures in the Cabinet and provide guidelines for creating a national cryptocurrency reserve. The Bags and Securities Commission (SEC) are open to clearer and more favorable regulations, and Congress is moving forward with new legislation approved.
In fact, the Senate has already taken its first step Adjust stablecoinsCurrency – Unlike EU authorities, Trump believes it is important to maintain the dollar territory.
Many remain in an age where the legal certainty provided by MICA is taken into consideration. It creates competitive advantages For the area.
As explained in a study by the Atlantic Council Company, regulations that emerged as pioneering in 2023 and committed to “cleaning up disasters” caused by Terra, FTX, Genesis and Celsius, are now less appealing to the United States. He is prominently stealing.
There is a contrast in the line of action in both regions, and it marks A kind of “branch” (Hard fork)»In global regulations, researchers add.
As an example, they cite stubcoin in the digital euro and US emphasis in Europe.
The US and Europe prioritize a variety of ways to digital finance. There are many risks. These political decisions arise in the context of increasing pressure on the global role of the US dollar and strengthening European interest in “economic sovereignty” over local payment systems.
Atlantic Council.
People don’t want the digital euro, but that’s not a priority
That’s obvious given the previous dynamics Regulatory priorities cannot be entered by users; But in global geopolitical and financial dynamics.
Donald Trump’s guidelines put aside the possibility of launching digital dollars; Showing rejection by CBDCeverything shows that this is due to his vision that he can support the dollar with stubcoin.
And all this happens on high spheres, he General Rejection of CBDC Don’t grow.
As demonstrated in the latest ECB investigation, it is a reality unknown to the authorities, but it does not seem to worry about regulators.
The working document on “Central Bank Consumers’ Attitudes to Digital Currencies” was realized with approximately 19,000 people participating in 11 countries. The challenges facing agents.
The results show that European consumers have shown minimal interest in adopting digital currencies issued by central banks, pointing to concerns about privacy and financial sovereignty.
Considering the possibility that currency will be imposedthey are clear about how to follow: Regardless of what the government is saying, the plan is to use Bitcoin and other cryptocurrencies as alternatives.
(tagstotranslate)cryptocurrencies
