EU names conditions for success of cryptocurrency euro

Representatives of the European Central Bank have named the conditions for the success of the cryptocurrency euro, as stated in the document on the key objectives of the CBDC launch.

According to the ECB’s President Christine Lagarde and Executive Board member Fabio Panetta, the digital euro can only succeed if it becomes part of the everyday life of Europeans.

«We are responsible for preserving the integrity of the monetary and payment systems in the interests of citizens. The digital euro could play a crucial and useful role in this effort, serving as a public good to transition our society and economy into the digital age,» Christine Lagarde tweeted.

We are responsible for preserving the integrity of the monetary and payment systems in the interest of citizens. A digital euro could play a decisive and beneficial role in this endeavour, serving as a public good for the transition of our society and economy into the digital age https://t.co/ykZtJSuYUp

— Christine Lagarde (@Lagarde) July 13, 2022

Despite the fact that the European Central Bank supports digital assets and is considering the launch of a CBDC, and some countries, such as France, have already announced plans to launch their own digital currency, there are still crypto skeptics. So in September, industry detractors will come together to share their skepticism and talk to lawmakers at their own anti-crypto conference. The organizers plan to invite politicians to the conference and explain to them how wrong they are about cryptocurrencies.