Name: Is the EU using digital euro to take control of your wallet?
Uploaded: 2025-12-17T15:45:31.157Z
Duration: 1 min 58 s
Description: Numerous rumors about the digital euro have been circulating on social media for months. According to some users, the currency will be used to monitor financial transactions or could even threaten individual freedoms. The Cube has debunked some of these claims.

Numerous rumors about the digital euro have been circulating on social media for months. According to some users, the currency will be used to monitor financial transactions or could even threaten individual freedoms. The Cube has debunked some of these claims.

Brussels

The European Union is exploring the introduction of a digital euro, a digital form of cash to be issued by the European Central Bank and national central banks. Supporters argue it would complement physical money and reduce reliance on non-European payment providers, while critics raise concerns about privacy and increased government control.

Commercial banks have expressed resistance, questioning the demand for such a currency. The European Central Bank plans to begin testing the digital euro in 2027, with a possible launch in 2029, pending approval from lawmakers.

Is the EU using digital euro to take control of your wallet?

Is the EU trying to control your wallet? More government control over your wallet, less freedom or even instant occurring freezes. These are the rumors that have been circulating for months on social media about the so-called digital euro. But do these rumors actually have any basis? For now, cash is the only way for the public to hold central bank money. But the proposed digital euro would be a digital form of cash issued directly by the European Central Bank and National Central Banks of EU member states, designed to complement physical money. The digital euro supporters say it would still offer people a level of protection. On the other hand, some experts warn the digital euro could carry a risk of tracking while cash remains largely anonymous. On its website, the ECB says a digital euro would reduce dependence on non-European providers. The private digital money market is largely dominated by US giant Mastercard and Visa, which handle more than 70% of card payments in Europe. Commercial banks, meanwhile, are showing strong resistance to the digital euro. The head of the French bank Crédit Mutuel, Daniel Balle, said the digital euro doesn't answer any demand from citizens and described it as a solution looking for a problem. The ECB plans to start testing the digital euro in 2027 and launching in 2029, but only if lawmakers give the green light. you

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