European Parliament Approves Legal Framework for Digital Euro by 2029
The European Parliament's Economic and Monetary Affairs Committee has approved the legal framework for a digital euro, aiming for launch by 2029. This decision addresses the EU's dependence on U.S. payment systems and is significant in protecting Europe's monetary sovereignty, according to CoinDesk.
On June 23, 2026, the European Parliament's Economic and Monetary Affairs Committee (ECON) voted in favor of a legal framework to enable the introduction of a digital euro, a state-backed central bank digital currency (CBDC) by 2029. This vote paves the way for trilogue negotiations between EU member states and the Parliament to finalize the legislation. The committee resolution follows three years of discussions and conflicts among central and commercial banks over the establishment of the digital euro.
The digital euro initiative aims to bolster Europe’s monetary sovereignty and provide an alternative to U.S. dollar-pegged stablecoins, such as Tether's USDT and Circle’s USDC, with prominent EU financial figures like European Central Bank (ECB) President Christine Lagarde advocating for its necessity. Lagarde asserts that the digital euro is essential not only for modernization of payments but also to address the geopolitical dynamics affecting the European economy. "Strengthening the resilience of payments in Europe has become a geopolitical necessity," stated ECON committee member Markus Ferber.
Under the proposed framework, the ECB plans to offer both online and offline functionalities for the digital euro by 2029. The offline version will allow transactions without internet access, promoting user privacy akin to cash use. Holding limits on digital wallets have been instituted to prevent a mass withdrawal of funds from traditional banks, an essential concern raised by commercial banks during the discussions.
The next step involves a 12-month pilot phase, where the ECB aims to test its digital currency infrastructure in real-world conditions with selected merchants and payment providers. The dual-path approach of maintaining traditional cash alongside the digital euro indicates a commitment to ensuring that the digital currency complements existing forms of payment rather than replacing them.
Summary based on original reporting by Olivier Acuna at CoinDesk, originally published Jun 23, 2026. SolanaWire does not republish source content.
Thailand Expands Probe into $300M Chinese Laundering Network
Thailand's Department of Special Investigation extends its investigation into a Chinese 'grey capital' network using illegal crypto mining to launder over $300 million annually, according to Decrypt. Authorities seized more than 6,390 mining rigs and issued eight arrest warrants as part of this crackdown.
19 minutes ago·Decrypt·Reported by Decrypt Agent
Bitcoin Faces Potential Drop Below $53,000, Analyst Warns
Bitcoin may need to decline by 15% or more to establish a market bottom, according to on-chain data analysis by James Van Straten, published by CoinDesk. The analysis indicates key support levels and historical patterns that could influence investor behavior as bitcoin approaches critical price points.
49 minutes ago·CoinDesk·Reported by James Van Straten
Tanya Denisova Joins Agora as COO to Oversee AUSD Stablecoin Operations
Tanya Denisova, former COO of Robinhood Crypto, has been appointed as head of operations at stablecoin issuer Agora. Denisova's extensive experience in managing crypto operations is expected to support Agora's growth in its AUSD stablecoin business, which has seen a 355% increase in transfer volume in early 2026, as reported by CoinDesk.
1 hour ago·CoinDesk·Reported by Will Canny
Clarity Act Faces Uncertain Path as Senate Negotiations Continue
As the Clarity Act advances through the U.S. Senate, significant unresolved issues remain before a potential vote in July. Crypto lobbyists are actively engaging lawmakers while navigating political complexities, including ties to former President Trump, according to CoinDesk.
1 hour ago·CoinDesk·Reported by Jesse Hamilton
Trending this week
STRC Stock Slide Revives Terra Comparisons, Analyst Responds
Strategy's preferred stock, STRC, has declined to approximately $82.53, leading to social media comparisons to the failed Terra UST stablecoin. However, analysts, including Mark Palmer from Benchmark, clarify that STRC is not a stablecoin but a dividend-paying share backed by bitcoin, as reported by CoinDesk.
2 hours ago·CoinDesk·Reported by Shaurya Malwa
Fomo Raises $75M as Venture Capital Reaffirms Interest in Consumer Crypto
Fomo, a crypto trading app, has secured $75 million in a Series B funding round led by Index Ventures, achieving a valuation of $550 million, according to Decrypt. The app aims to streamline on-chain trading, drawing investment from notable figures and VCs who typically avoid the crypto space.
2 hours ago·Decrypt·Reported by Tyler Warner
Franklin Templeton Acquires 250 Digital, Launches Franklin Crypto Division
Franklin Templeton has finalized its acquisition of 250 Digital, establishing a new division, Franklin Crypto, for institutional crypto investments, as reported by CoinDesk. This move allows Franklin Templeton to leverage 250 Digital's active management and strategies alongside its global distribution capabilities.
2 hours ago·CoinDesk·Reported by Olivier Acuna
Bitcoin Volatility Declines Ahead of $10 Billion Options Settlement
Bitcoin's implied volatility appears low as the market approaches a $10.5 billion options expiry, according to CoinDesk. The decline in volatility, particularly for bullish options, suggests traders expect smaller price swings for the cryptocurrency in the near term.
3 hours ago·CoinDesk·Reported by Omkar Godbole