EU to Vote on Digital Sovereignty Plan in July
The European Parliament will vote in July on a major technology sovereignty plan. Backed by Bitcoin-friendly Member of Parliament Sarah Knafo, the plan aims to position Europe as a leader in critical areas of tech controlled by China and the United States.
A Bid to Catch Up in the Digital Race
The ITRE Committee constructed the draft, which was adopted on 3 June as a non-binding report. The report determines the biggest weaknesses in Europe’s digital landscape of cloud computing, AI, semiconductors, cybersecurity, and blockchain infrastructure.
The report requires the EU to remove obstacles for private investment, prioritize energy-efficient computing, and ensure privacy in digital finance—while creating a politically supportive climate for innovation.
Sarah Knafo: A Bitcoin-Friendly Voice of European Innovation
Sarah Knafo, the driving force behind the proposal and vocal Bitcoin supporter, believes Europe is lagging in the digital race but still has the brains to play catch-up.
“We are only just beginning the digital revolution,” Knafo told. “We have all of the scientists and engineers. We just need the political framework.”.
Knafo believes the proposal will pass if right-wing forces hold firm, though she acknowledges pressure from left-aligned parties to veto.
A Guideline, Not a Law—Not Yet
While the report is currently non-binding, it sets important political guidelines for Europe’s digital policy direction. The final vote will come in the July plenary session.
Skepticism Continues
While Knafo is hopeful, analysts and commentators are not. The French news Frontières questioned whether the proposal is backed by a majority of the 720 members of Parliament.
One of the commentators stated, “Change will come from the nations… It’s shy but it moves.”
Digital Euro vs Bitcoin Reserve
Knafo’s tech sovereignty appeal is the follow-up to her scathing critique of the European Central Bank’s plans for a digital euro. Speaking to Parliament late in 2024, she made her defense of a Bitcoin reserve for strategic reasons.
“No to the digital euro, yes to a strategic Bitcoin reserve,” she stated.
But the EU appears to be on board with the digital euro, and ECB officials are stressing the need to react to US dollar stablecoins. ECB President Christine Lagarde dismissed the idea of including Bitcoin in central bank reserves over liquidity and security issues.
