European Parliament holds hearing on digital euro

The European Parliament holds a hearing related to the digital euro on Tuesday. The European Union’s previous plan to launch a retail central bank digital currency (CBDC) met with opposition from lawmakers, who questioned the necessity of setting up such a currency in jurisdictions with fairly high payment efficiency, whether citizens’ privacy would be protected, and more The controversial question is whether it can be used to expand state control. This hearing is intended to help legislators better understand this topic when considering legislative proposals. But invited experts were divided on almost everything from whether a digital euro would replace cash to limits on individual holdings of the digital euro. (CoinDesk)