The EU's cash limit and digital euro pilot could accelerate the shift to digital payments, impacting privacy, compliance costs, and financial inclusion.
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The European Union has now published a set of measures aimed at boosting Europe’s tech industry to help reduce reliance on US and Chinese suppliers for AI, cloud, and semiconductors. The proposals include rules to restrict the use of US hyperscalers for certain public sector procurement purposes, but stop short of banning them outright.
“Technological sovereignty does not mean protectionism. Europe remains grounded in openness, partnership, and fair competition,” Henna Virkkunen, executive vice president for Tech Sovereignty, Security and Democracy, said in a statement Wednesday. “At the same time, Europe wants to be in the position to make its own choices, avoiding dependence on single dominant suppliers, especially from non-like-minded countries.”
The European Technological Sovereignty Package — released after several delays — includes two legislative proposals: the Cloud and AI Development Act and Chips Act (CAIDA) 2.0 and the Open Source Strategy and Strategic Roadmap for Digitaliz
Some of the information that New York and the European Union’s watchdogs will share includes the issued stablecoin, total volume in circulation and the number of holders.
Schnabel says the digital euro is the ECB’s best response to stablecoins Stablecoins pose risks to financial stability and risk bank runs during stress Private stablecoins could weaken ECB interest-rate decision transmission Isabel Schnabel, a member of the European Central Bank’s (ECB) Executive Board, has argued that developing a digital euro is the most effective […]
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The post GENIUS Act Deadlines Loom, ECB Pushes Digital Euro as Coinbase Opens India INR Rails appeared on BitcoinEthereumNews.com.
Crypto News The opening week of June places U.S. stablecoin policy under hard deadlines, with comment periods for the GENIUS Act frameworks scheduled to close at the Treasury, FDIC, and FinCEN on June 2. The closures convert federal statute into operational requirements that issuers must build against, settling questions over reserves, yield, and licensing. Banking lobbies have pressed to slow the rollout, particularly around yield-bearing stablecoins, an objection that helped stall the Clarity Act for months. The Senate floor reopens on June 3 to consolidate market structure provisions with CFTC oversight and GENIUS amendments into one vehicle, with sponsors targeting an August signing. ECB board member Isabel Schnabel argued in Seoul on Monday that central banks must respond to swelling stablecoin volumes with stricter regulation and retail central bank d
The post ECB’s Schnabel says digital euro needed as stablecoin market nears $300B appeared on BitcoinEthereumNews.com.
Stablecoins nearing a $300 billion market value have prompted fresh warnings from the European Central Bank, whose officials say a digital euro is needed to protect financial stability and maintain the role of central bank money in the payments system. Summary ECB board member Isabel Schnabel warned that stablecoins could create financial stability risks as the sector approaches a $300 billion market value. Schnabel said dollar-backed stablecoins could strengthen the U.S. dollar’s global position, while euro-denominated stablecoins remain a small part of the market. The ECB continues to back a digital euro project, with a pilot expected in 2027 and potential issuance readiness targeted for 2029. According to Isabel Schnabel, a member of the European Central Bank’s Executive Board, the rapid growth of stablecoins has introduced risks that could affect financial stabilit
Stablecoins nearing a $300 billion market value have prompted fresh warnings from the European Central Bank, whose officials say a digital euro is needed to protect financial stability and maintain the role of central bank money in the payments system.…
The post EU crypto transaction tax: EC reviews 0.1% levy for 2028–2034 appeared on BitcoinEthereumNews.com.
The EU crypto transaction tax under review by the European Commission could put a 0.1% levy on crypto trades across the bloc, a small charge on paper that may have outsized consequences for traders, exchanges, and the European Union’s budget plans. The proposal, outlined in an internal document circulated on May 30, is projected to raise between €3 billion and €4 billion a year. That makes this more than a niche tax story. Instead, it sits at the intersection of two major EU priorities: finding fresh revenue for the next long-term budget and tightening the framework around digital assets as crypto regulation in Europe has become more mature. There is a catch, however, and it is a big one. The plan is not adopted, and getting it over the line would require unanimous approval from all 27 EU member states, a threshold that has derailed or delayed many tax measures before. What the E
