ECB's digital euro faces uphill battle in EU parliament
Government
FRANKFURT/BRUSSELS :The European Central Bank's plans to issue a digital euro face an uphill battle in the European Parliament as some lawmakers fear it will upend the banking sector, violate citizens' privacy and stifle innovation. The ECB renewed its pitch for a digital currency - essentially an online wallet guaranteed by the central bank - before lawmakers on Thursday. The central bank's board member Piero Cipollone presented it as a backup payment option if euro zone banks come under
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