|
|
A review by the European Parliament has highlighted the cross-border complexity in legal and technical aspects of the EU digital euro project. The EU digital euro may face challenges in non-eurozone member countries. A report from the Economic Governance and European Monetary Union Review Department pointed out the challenges that non-eurozone member countries would face in using CBDC (Central Bank Digital Currency). The primary challenge is that the currency acceptance of the digital euro across the entire EU would require approval of international agreements between the EU and third countries.
Erwin Voloder, the Policy Lead at the European Blockchain Association, stated that CBDCs involve a closed-loop data cycle, and at the very least, there needs to be a minimum data-sharing agreement between nations. There are complex legal issues related to usage, wallets, and jurisdiction, and so far, there are no viable solutions, which is seen as the biggest challenge going forward. |
|
Post time 8-9-2023 10:55:23