The European Parliament passes the digital euro advancement resolution, entering a crucial stage of negotiations with member states.
According to ChainCatcher and Bitcoin.com, the European Parliament has passed a resolution to advance the digital euro with 416 votes in favor, 169 against, and 22 abstentions, entering a critical stage of negotiations with member states. The currency was first proposed in 2023, aiming to preserve European monetary sovereignty and provide citizens with digital cash.
Negotiator Fernando Navarrete Rojas emphasized that the digital euro will "complement rather than replace cash," offering free basic accounts and holding limits to protect the financial system. The European Central Bank has already established partnerships with major European payment standard providers, using the digital euro as a tool to counter the growing influence of private currencies such as stablecoins. ECB executive board member Piero Cipollone stated that the digital euro will "reduce Europe's dependence on external providers."
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