European Parliament Holds Hearing on Digital Euro

According to Foresight News, the European Parliament held a hearing on the digital euro on Tuesday. The European Union's previous proposal to introduce a retail central bank digital currency (CBDC) faced opposition from lawmakers, who questioned the necessity of establishing such a currency in jurisdictions with high payment efficiency, whether citizens' privacy would be protected, and the more controversial issue of whether it could be used to expand state control. The purpose of the hearing was to help legislators better understand the topic when considering legislative proposals. However, invited experts disagreed on almost all issues, from whether the digital euro would replace cash to the limitations on individuals' holdings of the digital euro.