The EU publishes a draft document recommending consideration of European digital currencies

Author: Xiran Ding

Source: than push

Editor's Note: The original title is "The European Union proposes to consider the draft of the European digital currency"

A draft document issued by the European Union suggests that the EU consider issuing its own digital currency.


Reuters reported on November 5 that a draft EU document said that the European Central Bank should consider issuing a public digital currency. Previously, Facebook’s plan to launch private money was opposed by global regulators.

The EU draft text also urges the EU to develop a common scheme for cryptocurrencies, including projects that may be considered too risky.

According to the current form, this document, which may be adopted by the finance ministers of the EU next month, will increase the EU's supervision over cryptocurrencies. To date, some EU countries have only partially regulated cryptocurrencies.

The draft drafted by Finland, the EU's rotating presidency, also suggests that the European Central Bank (ECB) should consider issuing its own digital currency:

“The ECB and other ECBs can effectively explore the opportunities and challenges of the central bank’s issuance of digital currencies, including considering specific measures for this.”

According to the agenda of the meeting, EU finance ministers may discuss the draft on Friday for the next meeting on December 5.

In a special analysis report at the end of September, Cointelegraph pointed out that European digital currency is increasingly seen as a replacement for Facebook's Libra stable currency.

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Disclaimer: It is only the author's point of view and does not constitute investment advice. Investment is risky and at your own risk.