Proponents of the digital euro say its a better alternative to cash that’s fully backed by the ECB. But critics argue it could provide the EU with too much power over its citizens.
The digital euro is one of Europe’s most contentious financial projects.
Supporters see it as a way to preserve the bloc’s monetary sovereignty, reduce its reliance on foreign payment providers, and ensure central bank money survives in an online economy dominated by USD stablecoins.
Critics, however, argue the digital euro could be a way for a supranational organization to surveil — and in certain circumstances, even control — the population of Europe.
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