11 August 2021 Wednesday
Reform from the European Union to the Euro: 'Digital Euro'
Cryptocurrencies which are a new financial instrument for investors are becoming increasingly popular and countries and institutions continue to keep up with this trend. The European Union is also preparing to take a serious step against this innovation. The "Euro", the official currency of the European Union, is going digital with steps to be taken.
It has been observed that with the coronavirus pandemic, there has been a significant decrease in the use of cash and the interest in cryptocurrencies has increased rapidly in this period. This situation forces central banks to accept the change. Cryptocurrencies, which are frequently discussed due to their open nature to manipulations and the fact that legal regulations have not yet been established, alarmed the EU to take a step in this regard. In this context, the Digital Euro currency, which we heard for the first time in November 2020, may be the first official digital currency used by the EU in the coming years.
Currently, the European Central Bank provides direct services to financial institutions, but with the use of the digital Euro, individuals and private companies can also hold accounts directly at the European Central Bank for the first time.
For more detailed information on the subject, you can visit the links below:
https://tr.euronews.com/2021/07/17/avrupa-merkez-bankas-n-n-vites-yukselttigi-dijital-euro-nedir-ne-zaman-piyasaya-c-kacak
https://www.cafemedyam.com/2021/07/24/dijital-euro-nedir/
https://www.webtekno.com/avrupa-birligi-kripto-paraya-karsi-dijital-euro-cikariyor-h111410.html
Çağlar Karakurt
Research Assistant
Faculty of Economics, Administrative and Social Sciences
Department of International Trade and Business
