The Dutch regulator is ready to take an active part in the development of the “digital euro”

The Dutch main financial regulator (DNB) intends to take an active part in the development and implementation of a single digital currency of the European Union.

The report published by the regulator this week indicates that he is ready to play a “leading role” not only in researching and creating the coin, but also in testing it both on its territory and across the EU as a whole. The document emphasizes that the new payment tool will help to significantly speed up transactions, making them cheaper.

At the same time, the bank does not ignore the Facebook cryptocurrency project called Libra, which, according to representatives of the regulator, poses a threat to the stability of monetary policy. The development of the EU’s own digital currency will allow avoiding a number of problems that the participating states have encountered in connection with the total spread of the coronavirus. “Many stores now ask customers not to pay in cash, which in fact means that only electronic money is accepted,” the authors of the report write.

We add that at the moment many countries are launching pilot programs to assess the possibility of issuing a national cryptocurrency. Now such projects are being implemented, for example, in South Korea and Sweden.