news 
European Union (EU) Minister Calls for “Bitcoin Reserve” Adoption and No to CBDC
A recent statement made by Sarah Knafo, a French magistrate and member of the European Parliament since June 2024, has sparked controversy within the cryptocurrency community. In her video clip shared on Twitter, she expressed opposition to the development of a Central Bank Digital Currency (CBDC) in favor of adopting Bitcoin as a “reserve currency”.
Knafo emphasized the need for the EU to shift its focus from regulatory overreach and instead adopt decentralized asset Bitcoin. The European Union minister highlighted the importance of stopping “totalitarian temptations” by the European Central Bank, implying that the institution’s recent efforts towards regulating cryptocurrencies are misguided.
In her statement, Knafo drew comparisons with other countries’ approaches to blockchain technology and cryptocurrency regulation. She referred to El Salvador as a prime example of an “bitcoin bull country”, emphasizing the importance of embracing decentralized assets instead of stifling innovation.
Knafo also brought up Jerome Powell’s statement in 2023 where he called Bitcoin “digital gold”. This, according to her, highlights the need for the EU to recognize the legitimacy and potential of cryptocurrencies. In contrast, she criticized the regulatory bodies within the EU countries for focusing on regulation, taxation, and stifling innovation.
The statement has caused a stir among cryptocurrency enthusiasts and experts alike. Many are left wondering if Knafo’s words will have any significant impact on European Union policies regarding blockchain technology and cryptocurrency regulation.
Bitcoin’s current price stands at $106,146, with a 9.8% increase over the past week.
Source: bitcoinik.com
