Joana Cotar Advocates for Bitcoin in Germany
German parliament member Joana Cotar is a staunch supporter of Bitcoin, as she aims to make the cryptocurrency a legal tender in Germany. While the European Union plans to launch a digital Euro, Cotar has voiced strong opposition against this initiative and is championing efforts to make Bitcoin legal tender in Germany.
Cotar’s Plan to Educate German Lawmakers on Bitcoin
In an interview with Cointelegraph, Cotar expressed her ambition to bring BTC into Germany’s mainstream finance. She wants to lead a “preliminary examination” to create a legal framework to officially recognize Bitcoin as legal tender. According to Cotar, Bitcoin can provide real advantages for citizens, from privacy to increased financial freedom. She emphasized the need to promote the freedom aspects of Bitcoin, including protecting privacy, ensuring security standards, and preventing excessive regulation to maximize the benefits of the cryptocurrency.
To make her proposal a reality, Cotar knows she needs to first educate fellow lawmakers on the benefits of Bitcoin. That’s why she has created an initiative called “Bitcoin in the Bundestag” to advance her cause in the parliament. The initiative aims to educate on the importance of privacy protection and a regulatory overview while maximizing the benefits of BTC.
BTC And Nothing Else
Cotar’s support is focused solely on Bitcoin, and she has been critical of the European Central Bank’s digital currency plans. She shares the concerns raised by some lawmakers and financial analysts about potential monetary restrictions and surveillance on digital euro transactions by central banks.
A survey conducted by the Central Bank of Spain found that only 20% of respondents indicated that they would use the digital euro, while 65% of respondents said they would not. Cotar echoed this sentiment, stating that nobody needs the digital euro during a recent parliamentary session.
BTC As A Global Legal Tender
Cotar’s advocacy for Bitcoin comes at a time when the digital asset continues to grow in adoption and market cap. BTC is already a legal tender in two countries: El Salvador and the Central African Republic. Making Bitcoin legal tender in Germany would make it the first country in Europe to do so. Cotar believes her framework approach to make BTC a legal tender in Germany could also be implemented in other countries.
As the debate about the future of digital currencies continues, Joana Cotar remains a vocal advocate for Bitcoin and its potential to revolutionize the financial landscape in Germany and beyond.
