European lawmakers silent on US Bitcoin reserve amid digital euro push

European lawmakers have remained silent on the US Strategic Bitcoin Reserve order, a landmark policy shift favoring early adopters of Bitcoin due to its economic model.

US President Donald Trump’s March 7 executive order outlined a plan to create a Bitcoin reserve using cryptocurrency seized in criminal cases rather than purchasing Bitcoin (BTC) on the market.

Despite the significance of the move, European policymakers have yet to make any major public statements regarding Bitcoin reserves, raising questions about their stance on integrating BTC into national reserves.

This may signal a lack of European Bitcoin reserve-related efforts due to the lengthy process of adding new national reserve assets, according to Anastasija Plotnikova, co-founder and CEO of blockchain regulatory firm Fideum. She said:

“Usually there is a very clear legislative or executive process in adding different assets to the national treasuries, and in many cases, it is not an active voter or central bank support to push this through.”

“[The] ECB [European Central Bank] historically and currently is very critical of BTC as a reserve asset, so it effectively closes the doors to all EU member states,” Plotnikova added.

Meanwhile, European lawmakers are preparing to launch the digital euro, a central bank digital currency (CBDC).

Related: US Bitcoin reserve marks ‘real step’ toward global financial integration

Digital euro push presents payment infrastructure concerns

European lawmakers’ silence on Trump’s Bitcoin reserve order is likely due to its focus on the digital euro, according to James Wo, the founder and CEO of venture capital firm DFG.

“This stems from the ECB’s firm stance against holding Bitcoin in its reserves, as reiterated by ECB President Christine Lagarde,” Wo told Cointelegraph, adding:

“This highlights the EU’s greater emphasis on the digital euro, though the recent outage in the ECB’s Target 2 (T2) payment system, which caused significant transaction delays, raised concerns about its ability to oversee a digital currency when it struggles with daily operations.”

Related: Bitcoin reserve backlash signals unrealistic industry expectations

European lawmakers push ahead with digital euro launch for October 2025

Despite skepticism, ECB President Christine Lagarde is pushing ahead with the digital euro’s rollout, expected in October 2025. Lagarde has emphasized that the CBDC will coexist with cash and offer privacy protections to address concerns about government overreach.

“The European Union is looking to launch the digital euro, our central bank digital currency, by October this year,” Lagarde said during a news conference, adding:

“We are working to ensure that the digital euro coexists with cash, addressing privacy concerns by making it pseudonymous and cash-like in nature.”

Source: Cointelegraph

The United States and the European Union are taking opposite approaches to digital assets. While the EU is working to integrate a centralized digital currency, Trump has taken a firm stance against CBDCs.

While CBDCs have been praised for their potential to increase financial inclusion, critics have raised concerns about their surveillance capabilities and the potential for government overreach.

In July 2023, Brazil’s central bank published the source code for its CBDC pilot, and it took just four days for people to notice the surveillance and control mechanisms embedded within its code, allowing the central bank to freeze or reduce user funds within CBDC wallets.

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