Balgarianovinite.com The European Parliament (EP) has endorsed the use of digital assets, backing an innovation-friendly and secure environment for financial transactions. The EP stated that investment and technological development should remain within the European Union, supported by innovation in payments and competitive financial markets.
The European legislature welcomed the ongoing work on the digital euro, covering both retail and wholesale applications, and expressed support for the short-term Pontes project and the long-term Appia project on distributed ledger technology (DLT) for wholesale central bank payments. They also called on the European Commission and the European Central Bank to ensure that future digital euro solutions operate seamlessly with DLT infrastructure and complement, rather than replace, Europeans’ use of cash, according to a European Parliament press release.
The rapporteur on the proposed regulation establishing the digital euro is Fernando Navarrete Rojas of the European People’s Party (Christian Democrats), who held a press conference on the subject on Wednesday. He said that the single currency package which will be put to the vote on Thursday has one fundamental objective: to give European citizens greater freedom in how they use their own money. It strengthens two complementary options – cash and the digital euro.
Navarrete Rojas explained that the package provides the first genuine European guarantee that citizens will be able to access and use cash in their daily lives. Merchants will be required to accept cash payments in person and may not refuse cashless payments. EU member states will have to ensure that their citizens genuinely have access to and are able to use cash, including in rural and sparsely populated areas. They will also be required to work with the financial sector to address any deterioration in access to cash. Citizens must have accessible channels for lodging complaints if they are refused the option of paying in cash. Each member state will also be required to establish a resilience plan to ensure the availability of cash in the event that electronic payment systems fail.
He stressed that the package is not about choosing between cash and digital payments, but about ensuring that citizens remain free to decide how they pay, whether digitally or through traditional means.
Digital payments should never mean giving up one’s privacy. And this package guarantees exactly that, he went on to say. For online transactions, the digital euro will provide a significantly higher level of privacy than existing digital payment methods. Unlike international payment schemes, the European Central Bank and the national central banks will not be able to identify the individual user involved in a transaction. Transaction data stored within the central infrastructure will be segregated, meaning the European system will not be able to link a specific payment to a particular individual. Payment service providers will have access only to the personal data strictly necessary for anti-money laundering and fraud prevention purposes.
The digital euro will also make the euro more resilient by allowing it to function without an internet connection, the MEP said. Because offline digital euro transactions will be conducted directly between users’ devices, there will be no intermediaries and no records of what was purchased, when it was purchased or by whom. No one in Frankfurt, or anywhere else, will ever be able to decide what a citizen can or cannot buy with their own money, he stressed. European Parliament Backs Digital Euro and Protection of Cash Payments 2026 THE NEWS FROM BULGARIA – NEWS AGENCY 2009-2025 2026-07-08 17:25:16 Latest news World news Country news Most important news latest news most important latest of the day Justice Petar Nizamov Feathers Petar Nizamov- Feathers Justice bg iustitia.bg iustitia iusticia usticia investigation Burgas Bulgaria news news of the last hour news of the day news of today Bulgaria news The news from Bulgaria blitz news top news most important most commented latest news Boyko Borisov news weather coronavirus news news weather facebook youtube facebook instagram news today news of the last minutes news today today news news bg news leading news hot news bg news site for news all news news bg news of the last hour latest latest news bg news of today news today news today news of the last hour latest news today news bg news news 24 hours news vesti bg novini news world bird bg bivol bg bivol trud bg novini latest news today novinite bg news hello bulgaria political party coat of arms delyan peevski scandalous Bulgarian National Television Free Europe Television scandal exclusive live tv live right now tv tv online tv program bg live now tv news online tv online live court Burgas court Burgas district court Burgas court Burgas district court Burgas district court Burgas appellate court Burgas prosecutor Burgas prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Prosecutor General Ivan Geshev Prosecutor Geshev Tsatsarov Ministry of Internal Affairs Burgas ODMR Burgas ODPR Burgas police Burgas district police Burgas prosecutor Tsatsarov SGS cases Varna court chairman of the SGS court decisions on civil cases decisions on cases Plovdiv court decision of the court decisions cases Varna court criminal cases district district court decisions work in the court SGS chairman of the SGS judges Sofia court post judges Plovdiv court Plovdiv judges Plovdiv Supreme Court Inspectorate Supreme Court Supreme Judicial Council lawyer lawyer criminal cases lawyer civil cases lawyer marriage cases lawyer administrative criminal law criminal process civil law civil process administrative law constitutional law