Crypto: New European Parliament Throws Support Behind Digital Euro 2026

European lawmakers endorsed the ECB’s digital euro plans as a way to shore up the bloc’s monetary sovereignty, while reiterating that the central bank must remain independent.

The European Parliament threw its weight behind the European Central Bank’s (ECB) digital euro project in a vote that framed money and payments as a strategic asset in an era of rising geopolitical tensions.

Lawmakers adopted the annual ECB report by 443 votes in favor, 71 against and 117 abstentions, backing amendments that describe the digital euro as “essential” to strengthening European Union monetary sovereignty, reducing fragmentation in retail payments and bolstering the integrity of the single market.

The text places growing emphasis on how public money in digital form can curb Europe’s reliance on non‑EU payment providers and private instruments.

Members of the European Parliament (MEPs) also underlined that the ECB must remain independent and free from political pressure, arguing that safeguarding central bank autonomy was key to maintaining price stability and market confidence.

During the plenary debate, Johan Van Overtveldt, MEP and former Belgian finance minister, flagged that “the independence of the ECB is not a technical detail.”

He warned that history showed political interference with central banks “invariably leads to inflation, financial instability and even nasty political turmoil.”

Related: EU council endorses offline and online versions of digital euro

He argued that reaffirming independence is “even more important in the current global context,” likening monetary and financial stability to utilities such as water and electricity whose importance is only truly noticed when they fail.

The adopted resolution states that, even as the ECB develops a digital euro, cash should retain an important role in the euro area economy, and both physical and digital euros will be legal tender.

Source: CoinTelegraph