EU introduces encrypted digital currency heritage by 2024

According to foreign media, the two EU documents indicate that the EU will introduce new rules in four years, making cross-border payments faster and cheaper using blockchains and crypto assets such as "stablecoins".

Currently, 78% of eurozone exchange rates are in cash. The European Commission, an EU agency, will develop a plan to encourage more digital spending. The Council also wants to make quick changes to "immediate" payments, as the impact of coronavirus-related interactions has highlighted the growing importance of non-payment services.

According to the two EU documents, EU authorities would draft a law that would modify the existing rules applicable to crypto assets and create new ones in case of differences.

EU data states: "By 2024, the EU should have a principle to adopt 'Distributed Ledger Technology' (DLT) and financial sector cryptocurrency assets, including issues of technology solutions." of danger."

“Stablecoins,” a cryptocurrency backed by traditional assets, was in development by developers last year when Facebook announced plans for its digital acquisition, Libra. Currently, some mid-sized banks are exploring whether to create their own digital financial plans.

The EU also wants to facilitate the sharing of data in financial markets to support competition and diversification, while adhering to the principle "same risk, same rights, same rights", according to the case.

The EU must also announce regulations within four years to enable new consumers to quickly access digital financial services while preventing money laundering and self-censorship.

The document states that Current Payment should be "old-fashioned" by the end of 2021. Besides replacing the traditional debit card, Current Payment is required for many other applications, including offline and online shopping. where the card is now first. man dominates.

The EU has long been looking for "in-house" alternatives to Mastercard and Visa. Currently, the EU region consumes more services than those offered by US payment companies.

The Council will measure the impact of payment on customers to pay immediately, which would require a price that is no greater than the cost of modifying the loan.