PANews reported on April 20 that according to the Spanish news agency EFE, the European Central Bank released a report on April 19 stating that after the promotion of the digital euro, 5 paper notes will be withdrawn from circulation for every 10 digital euros issued. The project is seen as a strategic sovereign tool of the European Union, in contrast to the Trump administration's refusal to develop a digital dollar. The report pointed out that the popularization of digital currency will reshape the asset structure and may reduce bank deposits and cash demand.