{"id":151428,"date":"2023-09-07T15:11:09","date_gmt":"2023-09-07T09:41:09","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=151428"},"modified":"2023-09-07T15:11:09","modified_gmt":"2023-09-07T09:41:09","slug":"dont-rush-digital-euro-before-new-commission-in-june-2024-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/dont-rush-digital-euro-before-new-commission-in-june-2024-crypto-news\/","title":{"rendered":"Don\u2019t rush digital euro before new Commission in June 2024 – Crypto News"},"content":{"rendered":"
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The European Commissioner for Financial Stability, Financial Services and the Capital Markets Union, Mairead McGuinness, believes there\u2019s no reason to rush the digital euro until after the next European Parliament elections in June 2024. In her opinion, the European Union\u2019s central bank digital currency (CBDC) project should be approached \u201cquietly and slowly\u201d by the next European Commission, which will be approved by the incoming parliament.<\/p>\n

McGuinness mentioned<\/a> the digital euro during her speech at Brussels-based think tank Bruegel on Sept. 6. She highlighted that the European Central Bank (ECB) would be deciding the project’s fate in October. However, the official added, there\u2019s a necessity to explore this option:<\/p>\n

\u201cCash is less in use. We are using our cards and phones to buy, we\u2019re doing e-commerce and if there were a time when cash was very much diminished then where do we have public money – the central bank public money – if it\u2019s not in cash? We need a digital version of this\u201d<\/p><\/blockquote>\n

In June, the European Commission proposed a legislative plan<\/a> for a digital euro. The proposal includes provisions for free essential digital euro services, privacy protection and offline payments. Banks, insurers and funds would have to share customer data with fintech companies in exchange for compensation. <\/p>\n

Related: <\/em><\/strong>IBM offers guidance for successful implementation of digital euro<\/em><\/strong><\/a><\/p>\n

Recently ECB executive board member Fabio Panetta publicly supported the Commission\u2019s plan<\/a>, calling the European CBDC \u201ca new paradigm for preserving monetary sovereignty\u201d. <\/p>\n

The investigation phase of the digital euro project should be completed by October 2023. After that, the ECB will proceed with further development and technical solutions testing. <\/p>\n

The 2024 European Parliament election is scheduled to be held from 6 to 9 June 2024. According to EU procedures, the newly elected parliament will then approve or reject the president and other members of the European Commission, whose candidatures would be proposed by the European Council. <\/p>\n

Magazine: <\/em><\/strong>NFT collapse and monster egos feature in new Murakami exhibition<\/em><\/strong><\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The European Commissioner for Financial Stability, Financial Services and the Capital Markets Union, Mairead McGuinness, believes there\u2019s no reason to rush the digital euro until after the next European Parliament elections in June 2024. In her opinion, the European Union\u2019s central bank digital currency (CBDC) project should be approached \u201cquietly and slowly\u201d by the next […]<\/p>\n","protected":false},"author":2,"featured_media":151429,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-151428","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/151428","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=151428"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/151428\/revisions"}],"predecessor-version":[{"id":151431,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/151428\/revisions\/151431"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/151429"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=151428"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=151428"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=151428"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}