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While plans to usher in centralized, government-controlled
money are receiving some pushback in the US, the consensus seems to be in
favor of introducing a central bank digital currency (CBDS), i.e., the
digital euro. And now the question is how exactly to proceed, including by determining
strategic objectives. In the eurozone - made up of the 20 (out of 27) EU members that have adopted
the euro - merchants might find themselves under obligation to accept a
future European Central Bank (ECB) digital currency. This is information from a paper that eurozone finance ministers were
expected to discuss on Monday. The obligation proceeds from granting the EU
CBDC the same status as cash, making it a legal tender. The paper says that this course of action would make sure that the digital
euro's network effect and distribution are increased. Another point the paper raises for ministers to debate is if there should be
exemptions, whose goal would be "balancing the principles of contractual
freedom and mandatory acceptance." The ECB is yet to formalize a decision on issuing its CBDC, but this is
expected to happen in the fall, and meanwhile, EU bureaucrats are clearly
busy finalizing the proposal, including technical issues and priorities. Last week, the European Parliamentary Financial Services Forum heard from
Financial Services Commissioner Mairead McGuinness that a bill will be
presented in the near future, and that the ECB is at this point looking into
key design and technical questions before making the decision. But in order for the EU's central bank to make that decision, regulation is
needed, with the European Parliament's and the European Council's
involvement. The proposal is expected to be submitted in the second quarter of 2023, to
establish the bloc's CBDC and regulate it, including around issues like its
legal tender status, privacy and anti-money laundering, financial stability,
distribution and compensation, and the use of the digital euro outside the
euro area, said McGuinness. And earlier, in January, the finance ministers considering this -
collectively known as the "Eurogroup" - noted that going for an EU
CBDC is a political issue that requires political decisions. |
LA POLITICA DE OBJETIVOS DE UN #EURODIGITAL (#EUROGROUP MEETING, (I)) https://t.co/c3MmGZzV0r
— Guillermo Ruiz Zapatero (@ruiz_zapatero) March 22, 2023
Como se ha dicho las Divisas Digitales de los Bancos Centrales están estrechamente vinculadas a la crisis financiera, bancaria y económica en curso
Esta reunión fechada el 13 de marzo
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