EU’s Digital Euro Plan to be Headed by MiCA Lawmaker

Joshua Ramos
Source: Reuters

The European Union’s (EU) New Digital Euro plan is set to be headed by MiCA lawmaker Stefan Berger. Indeed, the lead author of the landmark crypto legislation is now set to head efforts for the EU’s Central Bank Digital Currency (CBDC) development. 

The new CBDC proposal has many skeptical, as it is set to include certain privacy control systems. Yet, the German lawmaker who was a key part of the MiCA legislation was announced on Wednesday. Now, specifically tasked by the European Parliament to lead the plans moving forward.

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MiCA Lawmaker Now Leading EU CBDC Proposal

The Markets in Crypto Asset Regulation (MiCA) plan was landmark legislation for digital assets in Europe. The regulatory plan eventually made its way through parliament. Subsequently, the lead on its development is now set to attempt something similar for CBDC plans for the region. 

Indeed, the EU’s Digital Euro plan is set to be headed by MiCA lawmaker Stefan Berger. The European Parliament announced as much on Wednesday, with Berger discussing the development of the European digital asset on X, formerly Twitter. 

The European Union's (EU) Digital Euro plan is set to be headed by Stefan Berger, the lawmaker behind the MiCA legislation
Source: Human Rights Watch

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“Having your own digital currency makes the EU more independent of non-EU countries and is part of the digital age,” Berger said. “However, the project will only succeed if you can trust the digital euro just as much as you can trust cash.” 

The European Central Bank has heavily invested in the development of its very own CBDC. However, both the European Parliament and EU governments will have to reach an agreement on laws regarding its development. Specifically, within the avenue of data security and other political aspects

Berger will now be tapped to propose amendments to the developing legislative drafts. Moreover, he will lead Council negotiations to develop unified legislation that will be agreed upon. The digital euro has been met with skepticism from Parliament members to this point.