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Bitcoin is at the center of a European lawmaker’s bold call to reject the ECB’s digital euro and establish a strategic BTC reserve. The MP warned of inflation risks and urged the EU to embrace decentralized alternatives.
EU Lawmaker Rejects CBDC Proposal in Favor of a Bitcoin Reserve
Sarah Knafo, a legislator from Europe, has rejected the idea of adopting the "digital euro," the ECB's proposed central bank digital currency (CBDC), and instead urged the EU to set up a strategic Bitcoin reserve.
A French magistrate named Knafo has been a member of the European Parliament since June. In a speech he gave in support of Bitcoin, he urged his fellow members to start a strategic Bitcoin reserve.
"No to the digital euro, yes to a strategic Bitcoin reserve," Knafo stated in a post on X that also contained a video of her address to the European Parliament.
Knafo Challenges ECB Policies and Regulatory Overreach
A legislator has spoken out against the European Central Bank's "totalitarian temptations" and has called for an end to regulatory overreach in the cryptocurrency industry in favor of Bitcoin's decentralized structure.
Knafo drew parallels between the crypto-friendly agenda of the Trump administration and the acceptance of Bitcoin in El Salvador in 2021 as examples of global advances in crypto legislation.
Per Cointelegraph, in early December, US Federal Reserve Chair Jerome Powell referred to Bitcoin as digital gold, which she also mentioned.
Europe Risks Falling Behind in Global Bitcoin Adoption
According to Knafo, European officials have approached cryptocurrency in a totally different way, with a primary focus on regulation, taxes, and limiting innovation.
“It is time to change the paradigm. It is time to protect our people from inflation and the poor economic choices of our States. It is time to say no to the totalitarian temptations of the European Central Bank, which wants to impose a digital euro entirely in its hands,” Knafo said.
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