Jun 28, 2026 · 10 min · 10 segments
Three regulators and one market all arrived at the same conclusion this week, even though none of them were talking to each other. The digital euro cleared its biggest parliamentary hurdle in five…
Let's start with the digital euro, because this stops being just theoretical right now.
Oh, for sure.
It's happening.
Yeah.
So on June 23rd, the European Parliament's Economic Affairs Committee, the Econ Committee, they backed the digital euro framework with a massive 43 to 14 vote.
And just one abstention, right?
Yep.
Just one.
So it's no longer just a slide deck and rustles.
Right.
And you really have to look at the why here.
The core motivation is dependency.
Using Arthur's data from the source, Visa and MasterCard currently handle a staggering 61 percent of euro area card payments.
61 percent.
That's that's wild.
It's like renting the foundational plumbing of your house from a landlord who lives on another continent.
That's a perfect way to put it.
I mean, European policymakers are terrified of that vulnerability.
But wait, I have to push back here.
Isn't a digital currency from a central bank just going to track our every move? Like that's always the immediate fear.
Yeah, that's the classic pushback.
But the nuance here is really interesting.
The single currency package details actually address that.
They are setting up a dual track system.
OK, what does that mean exactly?
Let's start with the digital euro, because this stops being just theoretical right now.
Oh, for sure.
It's happening.
Yeah.
So on June 23rd, the European Parliament's Economic Affairs Committee, the Econ Committee, they backed the digital euro framework with a massive 43 to 14 vote.
And just one abstention, right?
Yep.
Just one.
So it's no longer just a slide deck and rustles.
Right.
And you really have to look at the why here.
The core motivation is dependency.
Using Arthur's data from the source, Visa and MasterCard currently handle a staggering 61 percent of euro area card payments.
61 percent.
That's that's wild.
It's like renting the foundational plumbing of your house from a landlord who lives on another continent.
That's a perfect way to put it.
I mean, European policymakers are terrified of that vulnerability.
But wait, I have to push back here.
Isn't a digital currency from a central bank just going to track our every move? Like that's always the immediate fear.
Yeah, that's the classic pushback.
But the nuance here is really interesting.
The single currency package details actually address that.
They are setting up a dual track system.
OK, what does that mean exactly?
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