European Union (EU) minister calls for “Bitcoin Reserve” adoption & no to CBDC

Sarah Knafo said that it is time to stop “totalitarian temptations” by the EU Central Bank and adopt decentralised asset Bitcoin (BTC).

EU jurisdiction is a very big region for the crypto space. The central government agencies have been implementing crypto-focused rules & laws in step-by-step phases to regulate the crypto sector in the EU countries. In the past, many times, the European Union central bank also showed hate against Cryptocurrencies but praised blockchain technology as the best tech for future payment systems.

On 17 Dec 2024, Sarah Knafo, a French magistrate and a member of the European Parliament since June, shared a clip of her statement regarding Bitcoin.

She wrote “no to digital Euro (CBDC)” & yes to “adoption of Bitcoin reserve”.

In the shared video clip, she stated that it’s time to stop “totalitarian temptations” by the European Central Bank and needs to focus on the decentralised asset Bitcoin adoption instead of only regulatory overreach in the crypto space.

Also, Knafo compared the EU’s digital assets regulation developments globally by dragging attention toward the Bitcoin bull country El Salvador and the increasing pro-bitcoin wave in the jurisdiction of the United States & among the US political leaders.
She also noted that the US Federal Reserve Chair Jerome Powell called Bitcoin “digital gold” in 2023, but on the other hand, the regulatory bodies in the EU countries are mainly focused on regulation, taxation and stifling innovation.

In short, we can say that an EU parliament member said that the EU is lagging in the race for Bitcoin adoption, while other countries are rapidly moving forward.

Bitcoin Price Action

The current trade price of Bitcoin (BTC), the top crypto asset by market cap, is $106,146 & this price level is 9.8% high over the last 7 days of the trade period.

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