French MEP Sarah Knafo gave a speech in the European Parliament on 12/16, calling for the EU to establish a BTC strategic reserve and strongly opposing the "digital euro" (CBDC) that the European Central Bank (ECB) is preparing to launch. She believes that the EU is currently overly focused on regulation and taxation, neglecting the innovative potential of cryptocurrencies.
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ToggleEmphasize financial freedom and oppose the "authoritarian digital euro"
In her speech, Knafo directly criticized the digital euro (CBDC) promoted by the European Central Bank (ECB) as having "authoritarian tendencies" and suspected of excessively interfering with personal financial freedom. She stated: "We do not want to live in a dystopian world where bureaucrats can simply press a button to prohibit certain transactions, or exclude people from the financial system based on an inopportune social media comment."
She further said that the EU should move away from the current regulatory-centric mindset and instead adopt decentralized technologies like BTC to protect the freedom of the people, and to combat inflation and improper economic policies of the government.
Call for following the example of El Salvador and the US
Knafo directly stated in her speech that other countries are already ahead, such as El Salvador adopting BTC as legal tender in 2021, and the incoming US President Trump actively formulating crypto-friendly policies.
She also mentioned that in early December, US Federal Reserve Chairman Jerome Powell also referred to BTC as "digital gold", further affirming the value of BTC. In contrast, Knafo criticized that the current direction of Europe is only focused on regulation and taxation, completely suppressing the innovative development of the crypto industry.
(Powell: BTC is like digital gold, not worried about Fed losing independence)
ECB plans to decide the fate of the digital euro in 2025
The European Central Bank started researching the digital euro (CBDC) in 2020, and has spent more than four years analyzing the possibilities and risks of CBDC. However, the EU has not yet decided whether to launch the digital euro.
According to the latest plan of the ECB, they will continue to prepare for the launch of the digital euro, and plan to make a decision in October 2025. However, the controversies surrounding the potential privacy risks of the digital euro and its threat to the payment industry are still sparking heated discussions within Europe.
(ECB President: The digital euro will need at least two more years)
Risk Warning
Cryptocurrency investment is highly risky, and its price may fluctuate dramatically, and you may lose your entire principal. Please carefully evaluate the risks.
