In a prank video, the president of the European Central Bank (ECB), Christine Lagarde, has admitted that a digital euro, a central bank digital currency (CBDC) planned for release in the near future, would be used in a 'limited' way to control the payments that individuals can make. Lagarde acknowledged that "there will be control" but specified it would be a "limited amount of control." She voiced her desire for Europe not to be dependent on an "unfriendly country's currency" or a "friendly currency but which is activated by a private corporate entity like Facebook or Google." Lagarde has been concerned about the growth of cryptocurrencies and their threat to the traditional banking system, demanding greater oversight over the crypto industry. The ECB's plans prioritize e-commerce and person-to-person payments during the first phase of the CBDC release, followed by other contexts in the second phase.

(By Ana Nicenko)