{"id":140871,"date":"2024-10-29T20:00:22","date_gmt":"2024-10-29T18:00:22","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=140871"},"modified":"2024-10-29T13:48:12","modified_gmt":"2024-10-29T11:48:12","slug":"eu-governments-challenge-ecbs-authority-over-digital-euro-control","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/eu-governments-challenge-ecbs-authority-over-digital-euro-control\/","title":{"rendered":"EU Governments Challenge ECB&#8217;s Authority Over Digital Euro Control"},"content":{"rendered":"<p>The conflict centers on who will set limits on the amount of digital currency individuals can hold in central bank-backed wallets.<\/p>\n<p>As the ECB develops the digital euro to compete with U.S. payment giants like Visa and Mastercard, major EU nations, particularly France and Germany, argue that the central bank has overstepped its authority. The current draft regulation grants the ECB exclusive power to determine wallet limits, which member states contest, claiming the digital euro\u2019s implications extend beyond monetary policy.<\/p>\n<p>Concerns arise about financial stability, as high wallet limits could lead citizens to withdraw large sums from traditional banks during crises, threatening the banking system and infringing on individual financial autonomy. While the ECB maintains its role in ensuring banking stability, member states advocate for legislative oversight of supervisory functions.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/canadians-are-not-ready-for-a-digital-dollar-initiative\/\" title=\"Canadians Are Not Ready for a Digital Dollar Initiative\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/canada-crypto-blockchain-cusd-240x170.png\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">Canadians Are Not Ready for a Digital Dollar Initiative<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>Proposed compromises suggest that legislators could set parameters for the ECB\u2019s decisions, but doubts remain about the need for democratic oversight. This conflict reflects a broader reassessment of political versus central banking authority, occurring as over 100 central banks globally explore national digital currencies, inspired by Facebook\u2019s 2019 Libra proposal. The ECB views the digital euro as essential for reducing Europe\u2019s reliance on non-EU payment services.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A power struggle has emerged between European Union governments and the European Central Bank (ECB) regarding control of the digital euro.<\/p>\n","protected":false},"author":3,"featured_media":32764,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[28],"tags":[],"class_list":["post-140871","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fintech"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>EU Governments Challenge ECB&#039;s Authority Over Digital Euro Control<\/title>\n<meta name=\"description\" content=\"A power struggle has emerged 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