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European Politicians Struggle To Generate Enthusiasm for Digital Euro Proposal

June 21 (Cointime) - The European Central Bank and European Commission are collaborating on the technical aspects of a digital euro, but political leaders are not showing much interest. Proposed legislation for the central bank digital currency addresses concerns about privacy, offline usage, and distribution, but political issues have yet to be resolved.

The bill's focus is on preventing competition with savings or investment by prohibiting large holdings and interest payments. Politicians are requesting a positive case for the CBDC's use, which may be causing delays in the legislative proposal. Despite differing opinions on the role of blockchain and banks, some are optimistic that the proposal will receive majority support in parliament if a stronger case is presented.

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