European Parliament approves development of digital euro
The European Parliament has backed plans for a digital currency, aiming to decrease reliance on US payment systems and strengthen European financial autonomy by 2029.
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According to Euronews, the European Parliament has formally supported the creation of a digital euro. This initiative is designed to bolster European autonomy within the payments sector, specifically targeting a reduction in the current dominance of the US dollar in financial transactions.
The digital currency is currently projected to launch by 2029. This development marks a significant move for European monetary policy as the region seeks to modernise its payment infrastructure.
Source: Euronews. Read the original report ↗
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This brief is based on reporting by Euronews.supports: Euronews