‘No to CBDC, yes to Bitcoin’ — European MP calls for EU BTC reserve

European lawmaker Sarah Knafo called on the European Union to establish a strategic Bitcoin reserve while rejecting the proposed adoption of the “digital euro,” a central bank digital currency (CBDC) under development by the European Central Bank (ECB).

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Knafo, a French magistrate and a member of the European Parliament since June, delivered a pro-Bitcoin (BTC) speech, calling on European lawmakers to launch a strategic BTC reserve.

“No to the digital euro, yes to a strategic Bitcoin reserve,” Knafo said in an X post, which included a video of her speech before the European Parliament.

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The lawmaker said that it’s time to stop “totalitarian temptations” by the ECB, calling for a shift from regulatory overreach in crypto to adopting the decentralized nature of Bitcoin.

Knafo slams Europe for focusing on regulation and taxation

In her speech, Knafo compared crypto regulation developments worldwide, citing El Salvador’s Bitcoin adoption in 2021 and the crypto-friendly agenda of United States President-elect Donald Trump’s incoming administration.

She also mentioned that US Federal Reserve Chair Jerome Powell referred to Bitcoin as digital gold in early December.

Europe has taken a completely different approach to crypto regulation, Knafo said, adding that local regulators have been primarily focused on regulation, taxation and stifling innovation.

“It is time to change the paradigm. It is time to protect our people from inflation and the poor economic choices of our states. It is time to say no to the totalitarian temptations of the European Central Bank, which wants to impose a digital euro entirely in its hands,” Knafo said.

This is a developing story, and further information will be added as it becomes available.

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