The European Commission (EC) made its proposals public on June 28. Panetta, a critic of cryptocurrency, called the EC proposals for the euro CBDC “a new paradigm for preserving monetary sovereignty” that would ensure Europeans always have access to a public payment option, whether it was cash or digital, even as “closed-loop solutions are becoming increasingly prevalent” in private payment services. Panetta compared private payment systems to private messaging, where users are pressured to join the most popular systems.
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Source: Cryptocurrency - investing.com
