The French lawmaker, who has been a member of the European Parliament since June, recently delivered a passionate speech.
She called on lawmakers to establish a strategic Bitcoin reserve while rejecting the proposed central bank digital currency (CBDC).
Knafo Calls for Bitcoin Reserve, Rejects ECB’s Digital Euro Proposal
Knafo made her views clear, stating, “No to the digital euro, yes to a strategic Bitcoin reserve,” in an X post that included a video of her speech before the European Parliament. She argued that the ECB’s efforts to develop a CBDC represented a dangerous step toward “totalitarian temptations” and that the EU should prioritize the decentralized nature of Bitcoin instead of regulatory overreach in the crypto space.
NON à l’euro numérique
OUI à une réserve nationale stratégique de BITCOIN
pic.twitter.com/o886lk9uV8
— Sarah Knafo (@knafo_sarah) December 16, 2024
In her speech, Knafo pointed to global developments as examples of countries making bold moves in the crypto world. She highlighted El Salvador’s decision in 2021 to make Bitcoin legal tender and noted the pro-crypto stance of U.S. President-elect Donald Trump’s incoming administration. She also referenced U.S. Federal Reserve Chair Jerome Powell’s recent remarks about Bitcoin being “digital gold,” emphasizing Bitcoin’s growing legitimacy on the global stage.
Knafo Pushes for Bitcoin Reserve, Criticizes Europe’s Restrictive Crypto Approach
Knafo’s call to adopt Bitcoin as a strategic reserve contrasts with Europe’s current approach to crypto regulation. While many European lawmakers focus on imposing regulations and taxes, Knafo argues that this stifles innovation. Instead of burdening crypto with unnecessary restrictions, she advocates for allowing the market to thrive in a decentralized environment.
French Member of European Parliament @knafo_sarah, calling the EU to set up a strategic #Bitcoin reserve & resist #CBDC!
She mentions @nayibbukele’s actions & @realDonaldTrump’s vision. What a refreshing voice!pic.twitter.com/4QCgv8k5gQ
— Efrat Fenigson (@efenigson) December 17, 2024
By suggesting that the EU focus on Bitcoin as a reserve, Knafo is urging Europe to take a more forward-thinking approach, one that embraces digital assets rather than shying away from them. As Europe faces pressure from the ECB to develop a CBDC, Knafo’s proposal raises the question of whether Bitcoin could offer a more viable alternative.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted risk tolerance levels of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses you may incur due to any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
The post EU Lawmaker Calls for Bitcoin Reserve, Rejects CBDC appeared first on Altcoin Buzz.
This articles is written by : Nermeen Nabil Khear Abdelmalak
All rights reserved to : USAGOLDMIES . www.usagoldmines.com
You can Enjoy surfing our website categories and read more content in many fields you may like .
Why USAGoldMines ?
USAGoldMines is a comprehensive website offering the latest in financial, crypto, and technical news. With specialized sections for each category, it provides readers with up-to-date market insights, investment trends, and technological advancements, making it a valuable resource for investors and enthusiasts in the fast-paced financial world.