French Finance Minister proposes to create its own digital currency in the EU

According to Le Maire, EU member states need to explore opportunities to "reduce the cost and speed of international transactions" both within and outside the block.

"Therefore, I have put forward a proposal [for discussion by the Eurogroup] to create a national digital currency, which will also be considered at the next IMF meeting in October in Washington, D.C.," the minister said.

At the same time, he stressed that certain proposals for the launch of digital currencies are already in place. As an example, he pointed to the Libra cryptocurrency initiative from Facebook, the development of which France promises to block in the European territory for the protection of consumers, the financial system and state sovereignty.

On Thursday, Le Mayor also revealed details of the prospects of taxation of cryptocurrency trading in France. According to him, income from these activities will be taxed only at the stage of withdrawal in the "traditional" currency, while transactions between digital assets from the fiscal burden will be exempted.

The publication does not specify whether blockchain or some other technology is considered to be used in the potential digital currency of the EU.

Among other things, Le Mayor called for a "single legal framework" to regulate cryptocurrencies throughout the European Union