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Digital Euro is more crucial than ever – Christine Lagarde
The post Digital Euro is more crucial than ever – Christine Lagarde appeared on BitcoinEthereumNews.com. ECB claims it will not track individual transactions, but public skepticism about financial surveillance persists. If consumers shift funds to the ECB-controlled digital Euro, traditional banks may face liquidity issues. The European Central Bank (ECB) is advancing its digital Euro initiative to complete preparations by October 2025. However, President Christine Lagarde has made it clear that the rollout depends on legislative approvals from the European Commission, Council, and Parliament. Source: X Despite reassurances from policymakers, social media reactions and market sentiment reflect growing skepticism about financial surveillance and centralized control. Christine Lagarde has emphasized that the digital Euro is more crucial now than ever before. She stated, “It seems to the agnostic or the skeptics, it seems to be more relevant and more of an imperative now than ever before, both on the wholesale and on the retail level”. The ECB’s preparations, which began in November 2023, involve refining technical design, finalizing regulatory frameworks, and gathering input from key stakeholders. A digital currency for all? The digital Euro will consist of two components. The retail version will facilitate everyday transactions, offering free basic transfers and offline payment capabilities. The wholesale version will target financial institutions, enhancing cross-border settlements using blockchain technology. Lagarde has consistently emphasized that privacy concerns are being addressed, assuring that the ECB “will not track individual transactions.” Despite these assurances, concerns persist that the digital Euro could potentially enable government overreach. Social media skepticism rises Public sentiment on social media is divided, with strong opposition from commentators warning about financial control. An X (formerly Twitter) user, BowTiedMara, warned about potential financial restrictions, stating, “They will track every payment. They can block purchases. Automatic taxes. Without cash, you depend on the ECB. They will sell you “convenience”, but you will lose freedom. And you will be happy.” Peter…
The post Digital Euro is more crucial than ever – Christine Lagarde appeared on BitcoinEthereumNews.com.
ECB claims it will not track individual transactions, but public skepticism about financial surveillance persists. If consumers shift funds to the ECB-controlled digital Euro, traditional banks may face liquidity issues. The European Central Bank (ECB) is advancing its digital Euro initiative to complete preparations by October 2025. However, President Christine Lagarde has made it clear that the rollout depends on legislative approvals from the European Commission, Council, and Parliament. Source: X Despite reassurances from policymakers, social media reactions and market sentiment reflect growing skepticism about financial surveillance and centralized control. Christine Lagarde has emphasized that the digital Euro is more crucial now than ever before. She stated, “It seems to the agnostic or the skeptics, it seems to be more relevant and more of an imperative now than ever before, both on the wholesale and on the retail level”. The ECB’s preparations, which began in November 2023, involve refining technical design, finalizing regulatory frameworks, and gathering input from key stakeholders. A digital currency for all? The digital Euro will consist of two components. The retail version will facilitate everyday transactions, offering free basic transfers and offline payment capabilities. The wholesale version will target financial institutions, enhancing cross-border settlements using blockchain technology. Lagarde has consistently emphasized that privacy concerns are being addressed, assuring that the ECB “will not track individual transactions.” Despite these assurances, concerns persist that the digital Euro could potentially enable government overreach. Social media skepticism rises Public sentiment on social media is divided, with strong opposition from commentators warning about financial control. An X (formerly Twitter) user, BowTiedMara, warned about potential financial restrictions, stating, “They will track every payment. They can block purchases. Automatic taxes. Without cash, you depend on the ECB. They will sell you “convenience”, but you will lose freedom. And you will be happy.” Peter…
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