French Finance Minister proposes to create EU digital currency

French Finance Minister proposes to create EU digital currency

French Finance Minister Bruno Le Maire, at a meeting of European Union Economy and Finance Ministers, proposed creating an EU digital currency.

“EU member states should explore opportunities to reduce the cost of cross-border payments and simultaneously increase their speed both on the territory of the union and beyond,” says Le Mayor. – In this regard, I propose to start developing our own state cryptocurrency of the EU. We will also discuss this issue at the next IMF meeting in Washington in October. ”

The Minister stressed that Europe will not be an innovator in this regard, since similar developments are already underway. As an example, he pointed to the development of Facebook – Libra, the development of which France intends to block on European territory, because it fears problems arising from the currency sovereignty of the authorities.

On Thursday, Le Mayor provided details of the prospects for taxing cryptocurrency trading operations. Thus, the income from cryptocurrency trading will be taxed after converting the profit into “traditional” currency, and transactions between digital assets will not be subject to taxation.

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The publication does not provide information on whether the blockchain or any other technology will be used in the development of the digital currency of the European Union.


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