European Union lawmakers anticipate the arrival of the digital euro, but German politician Joana
Cotar is pushing back against the currency and fighting in favor of Bitcoin.
The European Union has been actively preparing for what it envisions as the future of money.
In the past year, it finalized its landmark comprehensive crypto legislation, the Markets in
Crypto-Assets Regulation (MiCA), which is due to take effect in 2024 after closing its second consultation in October.
It has also made progress in its plan to introduce a central bank digital currency (CBDC), which is
coming to fruition as the “digital euro.” De Nederlandsche Bank, the central bank of the Netherlands,
has described it simply as an “electronic form of public money – the coins and notes in our wallets.”
Many local regulators are embracing the digital euro and touting its potential benefits, though not
everyone is on board. In a recent survey out of Spain, 65% of Spaniards said they were not
interested in using the digital euro.
Slovakia’s parliament even passed a measure in June that amended its constitution to codify a citizen’s
right to pay for goods and services with cash in the face of the impending digital currency.