{"id":52199,"date":"2024-12-18T01:52:00","date_gmt":"2024-12-18T01:52:00","guid":{"rendered":"https:\/\/cointelegraph.com\/news\/european-mp-pro-bitcoin-eu-parliament-no-digital-euro"},"modified":"2024-12-18T04:26:03","modified_gmt":"2024-12-18T04:26:03","slug":"no-to-cbdc-yes-to-bitcoin-european-mp-calls-for-eu-btc-reserve","status":"publish","type":"post","link":"https:\/\/emilynews.com\/blog\/?p=52199","title":{"rendered":"\u2018No to CBDC, yes to Bitcoin\u2019 \u2014 European MP calls for EU BTC reserve"},"content":{"rendered":"

European lawmaker Sarah Knafo called on the European Union to establish a strategic Bitcoin reserve while rejecting the proposed adoption of the \u201cdigital euro,\u201d a central bank digital currency (CBDC) under development by the European Central Bank (ECB).<\/p>\n

Knafo, a French magistrate and a member of the European Parliament since June, delivered a pro-Bitcoin (BTC) speech, calling on European lawmakers to launch a strategic BTC reserve.<\/p>\n

\u201cNo to the digital euro, yes to a strategic Bitcoin reserve,\u201d Knafo said in an X post, which included a video of her speech before the European Parliament.<\/p>\n

The lawmaker said that it\u2019s time to stop \u201ctotalitarian temptations\u201d by the ECB, calling for a shift from regulatory overreach in crypto to adopting the decentralized nature of Bitcoin.<\/p>\n

Knafo slams Europe for focusing on regulation and taxation<\/h2>\n

In her speech, Knafo compared crypto regulation developments worldwide, citing El Salvador\u2019s Bitcoin adoption in 2021 and the crypto-friendly agenda of United States President-elect Donald Trump\u2019s incoming administration.<\/p>\n

She also mentioned that US Federal Reserve Chair Jerome Powell referred to Bitcoin as digital gold in early December.<\/p>\n

Europe has taken a completely different approach to crypto regulation, Knafo said, adding that local regulators have been primarily focused on regulation, taxation and stifling innovation.<\/p>\n

\"Europe,
European MP Sarah Knafo provided a pro-Bitcoin speech before the EU Parliament. Source: Sarah Knafo<\/em><\/p>\n<\/figcaption><\/figure>\n

\u201cIt is time to change the paradigm. It is time to protect our people from inflation and the poor economic choices of our states. It is time to say no to the totalitarian temptations of the European Central Bank, which wants to impose a digital euro entirely in its hands,\u201d Knafo said, adding:<\/p>\n

\u201cWe do not want this dystopian world where a European bureaucrat will be able tomorrow to ban certain transactions and even eliminate us from the banking system with a click for a simple comment made on social networks or for an opinion that displeases. It is time to bet on freedom.\u201d<\/p><\/blockquote>\n

ECB plans to decide on a digital euro in 2025<\/h2>\n

The ECB has been officially studying the concept of a CBDC for more than four years, but The EU has yet to decide on launching a digital euro.<\/p>\n

The European Central Bank\u00a0published\u00a0one of its first reports dedicated to a potential digital euro in October 2020, starting a long-running examination of its potential and risks.<\/p>\n

Related: <\/strong><\/em>El Salvador plans Bitcoin policy changes to secure $1.3B IMF loan \u2014 FT<\/strong><\/em><\/p>\n

European authorities have been struggling to decide on a digital euro as many have expressed concerns about its privacy risks, possible threats to private payment firms and other reasons.<\/p>\n

In its latest rulebook, the ECB said it continues preparations for a potential digital euro launch and expects to make a final decision on the matter by October 2025.<\/p>\n

Magazine: <\/strong><\/em>Crypto has 4 years to grow so big \u2018no one can shut it down\u2019: Kain Warwick, Infinex<\/strong><\/em><\/p>\n

Check other news for today<\/span> and Please stand by..<\/p>\n

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\"\"<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

European lawmaker Sarah Knafo called on the European Union to establish a strategic Bitcoin reserve while rejecting the proposed adoption of the \u201cdigital euro,\u201d a central bank digital currency (CBDC) under development by the European … \u2018No to CBDC, yes to Bitcoin\u2019 \u2014 European MP calls for EU BTC reserve<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":52200,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5651],"tags":[139,3544,3812,5652,6270,10,159,97],"class_list":["post-52199","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptonews","tag-bitcoin","tag-bitcoin-news","tag-cryptonews","tag-emilynews","tag-henbboventures-hyip","tag-hyip","tag-hyipnews","tag-hyips","exalt-entry"],"yoast_head":"\n\u2018No to CBDC, yes to Bitcoin\u2019 \u2014 European MP calls for EU BTC reserve - EmilyNews<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/emilynews.com\/blog\/?p=52199\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"\u2018No to CBDC, yes to Bitcoin\u2019 \u2014 European MP calls for EU BTC reserve - 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