The European Parliament passes a resolution to advance the digital euro, entering a key phase of negotiations with member states

ME News message, July 11 (UTC+8). The European Parliament passed a resolution to advance the digital euro with 416 votes in favor, 169 against, and 22 abstentions, entering a key stage of negotiations with member states. The currency was first proposed in 2023, aiming to safeguard European monetary sovereignty and provide citizens with digital cash. Negotiation representative Fernando Navarrete Rojas emphasized that the digital euro will “supplement rather than replace cash,” and will offer free basic accounts and holding limits to protect the financial system. The European Central Bank previously established cooperation with major European payment standard providers, using it as a tool to counter the growing influence of private currencies such as stablecoins. Piero Cipollone, a member of the ECB Executive Board, said the digital euro will “reduce Europe’s reliance on external providers.” (Source: ChainCatcher)
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