By Dutch MEP Auke Zijlstra (PVV/Patriots for Europe)
Yesterday, the European Parliament’s Economic and Monetary Affairs Committee approved the digital euro.
The European Parliament had a unique opportunity to adopt a nuanced position that would address concrete challenges, such as Europe’s dependence on third-country payment platforms for digital payments. The rapporteur’s initial position (Fernando Navarrete, EPP) moved in that direction by distinguishing between the offline and online functionalities of the digital euro.
💶 @EP_Economics has adopted its position on the single currency package, including the establishment of the digital euro.
The digital euro would offer Europeans a private, secure and innovative way to pay, while reducing reliance on non-EU providers.
🔗 https://t.co/Cak1nspQWE pic.twitter.com/6GE9GpZIH6
— Delphine Colard (@DelphineColard) June 23, 2026
Such an approach would have given existing European online payment infrastructures both the time and the regulatory confidence needed to develop, innovate, and scale. We regret that the rapporteur ultimately abandoned the possibility of securing a majority on the centre-right in support of this sensible proposal.
Instead, the unconditional rollout of both online and offline functionalities was endorsed, in line with the demands of the left bloc.
We also regret the decision to waive Know Your Customer (KYC) requirements for asylum seekers in order to facilitate access to digital euro services. This creates an unjustified disparity with the standards applied to European citizens and places banks in an inconsistent position, as they are generally prohibited from providing services to prospective clients whose identities and assets cannot be adequately verified.
"Pretending we’re defending Europe’s monetary sovereignty with a "Minitel money" is a huge joke." https://t.co/rlusUxgql2
— Pieter Cleppe (@pietercleppe) June 23, 2026
Furthermore, we regret that our proposals to strengthen cybersecurity safeguards—such as the use of ethical hacking during the pilot phase—were not taken into consideration. As a result, the digital euro risks crowding out more cost-effective and secure private-sector initiatives in the digital payments market, while expanding the role of a public provider that is likely to offer a more expensive and less secure alternative.
Today’s vote marks a significant setback for the development of digital payments in Europe. Rather than advancing innovation, competition, and resilience, the European Union has taken a step in the opposite direction.
Europa vreest digitale dollar, maar remt euro-stablecoins zelf af #stablecoins #EUstablecoin #Qivalis https://t.co/NALtxho6cw
— Jan Jaap Omvlee (@janjaapomvlee) June 22, 2026
Today, the European Parliament's relevant committee approved the digital euro https://t.co/0eIl0gNHa5 https://t.co/aegozSY4OV
— Pieter Cleppe (@pietercleppe) June 23, 2026
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