Digital euro CBDC is 'symbol of trust in our common destiny' — ECB head
ECB President Christine Lagarde touted the digital euro CBDC as a unifying symbol, prompting significant backlash from the crypto community.Summary
European Central Bank (ECB) President Christine Lagarde described the forthcoming digital euro central bank digital currency (CBDC) as a "symbol of trust in our common destiny," aiming for its launch as early as possible to circulate alongside physical banknotes for online payments. The ECB governing council has approved moving to the technical preparation phase for a retail CBDC, contingent on EU lawmakers passing necessary legislation, with a potential rollout slated for 2029. This announcement immediately drew heavy criticism from the crypto community and political influencers, who view CBDCs as antithetical to decentralized finance and a threat to civil liberties due to potential real-time monitoring of spending. Critics argued that creating a CBDC erodes trust, while some European lawmakers in France and Germany have already submitted proposals to ban CBDCs and instead embrace decentralized options like Bitcoin.
(Source：Cointelegraph)