Circle Policy Head Shares Key Predictions on Potential Digital Euro
He gave these predictions following his participation in a roundtable featuring the Digital Euro. As he noted, the CBDC will exist first as a Central Bank alternative to cash and as a tokenized bank deposit. Additionally, the Digital Euro will take the form of a stablecoin or regulated e-money.
According to Hansen, despite the efforts of the government to ensure a proper development of its CBDC, the private sector is better equipped to deliver the much needed payment solution involving stablecoins.
With many nations, numbering up to 110 now deeply involved in CBDC research and development, the EU is hoping to stay on top of this next level payment innovation. After the bloc’s Parliament passed the Markets in Crypto Assets (MiCA) Bill earlier this month, the region has earned the tag of one of the most proactive regions tilted to innovations bothering the Web3.0 ecosystem.
Potential Timeline for Digital Euro Launch
The World’s first licensed Crypto Casino. Begin your journey with 20% cashback up to 10,000 USDT.
Trending Stories
SOL Price Prediction: Bullish Pattern Sets Solana Price for 22% Rise; Enter Today?
24/7 Cryptocurrency News
XRP Price Prediction: XRP Price Coiling Up Before a Massive Move; Enter Now?
24/7 Cryptocurrency News
ETH Price Prediction: New Recovery Cycle in Ethereum Price Hints a 10% Rally Ahead
24/7 Cryptocurrency News
PEPE Price Prediction: This Chart Pattern may Determine if PEPE Token Price will Rally 70% or Fall 40%
24/7 Cryptocurrency News
Bitcoin Price Reversal from a Healthy Retracement Level Hints 6% Jump; Enter Today?
24/7 Cryptocurrency NewsDespite the proactive engagement in research and consultation from the European Central Bank (ECB), there is no decision on whether or not it will proceed with the development of the Digital Euro just yet.
Hansen also commented on this, noting that the Digital Euro will “enter the broader political arena towards the second part of this year.”
Specifically, the said the EU wide negotiations at the Commission level will resume this year with a crucial decision on whether to proceed with the project now on the horizon. According to the Circle Chief, there has been confirmation that crucial aspects of the proposed CBDC such as its holding limits and other features are bound to be decided politically.
According to earlier reports by Coingape, ECB President, Christine Lagarde has reiterated time and again that there is a need for a borderless Digital Euro. The industry enthusiasm is high, and all eyes are fixed on the next steps from the EU.