The work accomplished by the European Central Bank in its efforts to launch a digital euro encouraged Queen Máxima of the Netherlands. On Nov. 7, the queen spoke virtually at a European Commission conference titled “Towards a legislative framework enabling a digital euro for citizens and businesses,” saying that a digital euro could encourage financial inclusion among underserved communities by removing barriers such as transaction fees and documentation requirements. A central bank digital currency, or CBDC, in the European Union, according to the regent, could help reduce the cost of remittances, but it may necessitate policy reforms and safeguards “to address difficulties and risks.”
