EU Official Urges Adoption of Bitcoin as Reserve Asset, Rejects Central Bank Digital Currency
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European Union (EU) Minister Calls For “Bitcoin Reserve” Adoption & No To CBDC
In a recent statement, Sarah Knafo, a French magistrate and member of the European Parliament since June, has urged the EU to adopt Bitcoin as a reserve asset instead of pursuing the development of a Central Bank Digital Currency (CBDC). This call comes at a time when the European Union is actively considering the introduction of its own digital currency.
Knafo’s statement emphasizes the need for the EU to abandon its pursuit of a CBDC and focus on adopting decentralized asset Bitcoin instead. The French magistrate has explicitly stated that it is time to stop “totalitarian temptations” by the European Central Bank and shift attention towards promoting Bitcoin adoption.
In her statement, Knafo also drew parallels with other countries such as El Salvador, which has already adopted Bitcoin as its official currency, and some prominent US politicians who have expressed support for the cryptocurrency. She highlighted that while the EU is lagging behind in this regard, other nations are rapidly moving forward with Bitcoin adoption.
The current price of Bitcoin stands at $106,146, a 9.8% increase over the last seven days. The rapid growth in the crypto market has sparked concerns among regulatory bodies and experts alike regarding the potential risks associated with CBDCs.
Knafo’s call to action emphasizes the importance of promoting innovation and decentralized systems over regulatory overreach and stifling innovation.
Source: bitcoinik.com
