EU responds to crypto with Digital Euro

The European Commission has proposed launching a ‘Digital Euro’ currency to sit alongside Euro coins and banknotes. Digital Euro would become a method of payment throughout the Eurozone, even in remote areas without an internet connection. Unlike cryptocurrencies, the EU promises that the Digital Euro would be fully backed by the European Central Bank to guarantee its stable value. Announcing the proposal in Brussels this lunchtime, European Commissioner for Financial Affairs, Mairead McGuinness, said it will be a complement to the cash in our pockets.

 

Out words: Of cash

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