The European Parliament is set to vote on an innovation sovereignty proposition sent by the Committee on Market, Research Study and Energy (ITRE) under the management of pro-Bitcoin legislator Sarah Knafo.
ITRE, among 24 standing committees in the European Parliament, on June 3 embraced a non-binding report on tech sovereignty and digital facilities, requiring a European policy for the digital community.
The proposition highlights issues that Europe is falling back the United States and China in tactical sectors such as the cloud, cybersecurity, expert system, semiconductors and interaction facilities.
The report recommends raising barriers to personal financial investment in development, promoting energy-efficient computing and blockchain facilities and protecting personal privacy in digital financing.
Parliament vote anticipated in July
According to the interaction from the ITRE, the European Parliament is anticipated to vote on the proposition in the upcoming plenary session.
Knafo, an essential backer of the proposition, informed Cointelegraph that the vote will more than likely happen throughout the July session.
” If all the conservative celebrations vote in favor of the text, and generally they should, we have a great chance to get a bulk,” stated Knafo. “However left-wing celebrations put pressure on the center-right celebration to obstruct it. We will see if they withstand it.”
Knafo stressed that the report is not yet a lawfully binding piece of legislation and is expected to specify political standards just.
Is the EU set for a digital transformation?
” I highly think that we are still at the very start of the digital transformation. Up until now, Europe is dragging, to state the least,” Knafo stated, including:
” We have all the skilled engineers and researchers we require to overtake the United States and China. We simply require an ideal political frame to let them operate in Europe.”
While Knafo is positive about the capacity for a digital transformation in the EU, some analysts are less positive about the result.
Related: Digital euro, not MiCA, crucial to handling crypto threats: Bank of Italy chief
Doubters in the French media website Frontières revealed thankfulness for Knafo’s efforts however doubt whether the proposition would acquire the assistance of a bulk of the parliament’s 720 legislators.
” Modification will originate from the countries. Modification will originate from individuals. AfD [Alternative for Germany], Poland, Hungary, Netherlands. It’s shy however it moves,” one commenter composed.
Knafo’s demonstration versus the digital euro
Knafo’s advocacy for tech sovereignty follows her singing opposition to the European Reserve bank’s (ECB) prepares for a digital euro. In a speech to the European Parliament in late 2024, she called rather for a Bitcoin (BTC) tactical reserve
” No to the digital euro, yes to a tactical Bitcoin reserve,” Knafo mentioned in her speech to the European Parliament last December.
Nevertheless, the European Union has actually relocated the opposite instructions, with ECB authorities such as Piero Cipollone highlighting the immediate requirement for the digital euro to neutralize the increasing adoption of United States dollar stablecoins.
In January 2025, ECB President Christine Lagarde likewise dismissed the chance to produce a Bitcoin reserve, highlighting that reserve bank reserves need to be “liquid, protected and safe.”
Publication: AI remedies loss of sight, ‘great’ propaganda bots, OpenAI end ofthe world bunker: AI Eye