Sat, January 28, 2023

Should We Expect Release of Digital Euro?

The Euro

Dutch monarch Maxima has expressed support for a digital euro. While, speaking to members of the European Commission, the Queen said: “Let’s imagine a brighter future and create a digital euro that works for all Europeans.”

Dutch monarch Maxima Zorregieta Cerruti expressed her encouragement for the ECB’s efforts to prepare for the introduction of the digital euro currency. On 7 November, the queen delivered a virtual speech on the legal framework at a meeting of the European Commission. This will make it easier for citizens and businesses to access the digital euro.

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She argued that the digital euro could promote financial inclusion in disadvantaged communities by removing barriers such as transaction costs and red tape. The European Union Central Bank’s digital currency (CBDC) could help reduce the cost of money transfers. Published reports suggest safeguards and legal changes may be needed to address the problems and threats.

The queen declared that it is the responsibility of public sector officials to ensure that the financial system is accessible to all people and that it considers their requirements. So, let’s create a digital euro that benefits every one of Europe and visualize a better future.

Máxima became queen consort of the Netherlands in 2013. She occasionally uses her position to promote fintech as an inclusive tool, with a particular focus on CBDC. Since 1814, the Netherlands has constitutional monarchy. The monarch, King Willem-Alexander, served mostly as a ceremonial head of state. Additionally, Queen Maxima acts as the Special Envoy on Inclusive Finance for Development for the UN Secretary-General.

The Bitcoin Amsterdam conference took place in the Netherlands in October. It has attracted other dignitaries, including Prince Philip of Serbia, and political decision-makers such as former MEP Nigel Farage. US-based cryptocurrency exchange Coinbase also announced its entry into the country after receiving regulatory approval from the Dutch central bank in September.

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