European Parliament passes digital euro advancement resolution, entering critical phase of negotiations with member states

CoinFeed July 11 news, according to Bitcoin.com report, the European Parliament passed the digital euro advancement resolution with 416 votes in favor, 169 against, and 22 abstentions, entering a critical phase of negotiations with member states. The currency was first proposed in 2023, aimed at maintaining European monetary sovereignty and providing citizens with digital cash. Negotiator Fernando Navarrete Rojas emphasized that the digital euro will "complement, not replace cash," and provide free basic accounts and holding caps to protect the financial system. The European Central Bank has previously cooperated with major European payment standard providers, using it as a tool to resist the expanding influence of private currencies such as stablecoins. ECB Executive Board member Piero Cipollone said the digital euro will "reduce Europe's dependence on external providers."