An important point to add here: Lagarde argues that the digital euro can be used to evade US sanctions. She describes the importance of individual sovereignty in this example, but the digital euro would _not_ provide individual sovereignty.

It's probably obvious to most folks on Nostr, but digital euro users would still be subject to EU control. So, sure. You might evade US sanctions, but you're not going to escape EU sanctions.

Big ups to @DireMunchkin for flagging this in the comments.

I'm surprised no one has noticed this... but the ECB is openly touting that the newest use case for the digital euro is sanctions evasion.

In an interview with the FT, Lagarde openly said the digital euro could be used to evade US sanctions.

Considering central bankers often label bitcoin and other cryptocurrencies as tools for criminals to evade sanctions, this is rich.

In fact, Lagarde almost sounds like a bitcoiner when she talks about the need for _individuals_ to reclaim their financial sovereignty.

So forget financial inclusion, monetary policy, or any of the other popular items officials have proclaimed about CBDCs.

The digital euro is about sanctions evasion.

https://www.cato.org/blog/digital-euro-sanctions-evasion

Well, I guess that settles that.

Allow me to translate this ECB paper from academic to plain English:

'We found that showing people government propaganda made them more likely to want the digital euro.'

Forget financial inclusion, monetary policy, and modernization. Now, CBDCs are about preventing discrimination against central bank money.

Your bank may soon call asking you to prove your citizenship if this executive order goes through.

https://www.cato.org/blog/know-citizenship-says-trump-banks

Bank of Albania governor says it is "essential to remain aligned with European processes" when asked if Albania will have a CBDC.

Learn more in the @HRF CBDC Tracker. https://cbdctracker.hrf.org/home

It looks like Trump is joining Secretary Bessent in calling for more financial surveillance...

On the bright side, the freedom to transact without having to show your papers is why Bitcoin exists. https://www.wsj.com/politics/policy/trump-administration-considers-action-requiring-banks-to-collect-citizenship-info-8e26f6d2

That's going to be a no from me.

Ironically, in making the case for greater state involvement, the CD Howe authors completely overlook that it was state regulation that caused the problems during America's free banking era.