European Central Bank Pushes for Digital Euro, Faces Backlash from Crypto Community
The European Central Bank (ECB) has announced its plans to introduce a digital euro, a central bank digital currency (CBDC), as a unifying force in the European Union (EU). According to ECB President Christine Lagarde, the digital euro will be a symbol of trust in the EU’s common destiny and will be introduced “as early as possible.” Lagarde emphasized that the ECB wants to make cash available in both physical and digital forms, stating, “Just as banknotes will continue to be in circulation, we want cash to also be in the form of a digital euro.”
The ECB’s Governing Council has announced that it will continue building the technical infrastructure to test and deploy a retail CBDC, with its rollout scheduled to begin in 2029, provided EU lawmakers pass a law allowing the ECB to issue it. The digital euro is expected to be used for online payments in the EU, further integrating the region’s financial systems. 
Criticism from the Crypto Community
The ECB’s announcement has sparked strong criticism in the crypto community, with many arguing that CBDCs are contradictory to the core idea of permissionless, decentralized finance (De
