The European Central Bank recently held a meeting in which it outlined the themes it’s exploring, including assessing the demand for a wholesale CBDC and the need for atomic payments.
Bundestag's Joana Cotar argues that BTC is a better alternative to cash than a CBDC, citing the possibility of regulators to heavily monitor the digital euro and misuse data.
The digital euro project enters a new phase following the conclusion of the investigatory period, but while the EU inches closer to embracing a CBDC, it's far from being a done deal.
As the European Union makes headways in its CBDC exploration, Spain formally voices its support for the digital euro, which it says would help build trust and financial independence in the digital realm.
The preparation phase of the digital euro will formally kick off on November 1 and is projected to last for two years—with a keen focus on finalizing the 'digital euro rulebook.'
The European Central Bank explores blockchain technology for CBDC settlements, plans trial in 2024 while progressing toward digital euro with focus on user privacy, inclusion, and commercial bank concerns.
Fabio Panetta of the ECB claims the proposed legislation on the region's digital euro would be beneficial to European citizens while keeping the monetary policy on a tight leash to avoid instability.
Bank of Spain Deputy Governor Margarita Delgado and EU authorities will spearhead the retail side of digital euro through private payment service providers with possible offerings outside eurozone.
Under Banque de France Governor François Villeroy de Galhau's proposal, CBDC, tokenized bank deposits, and other digital currencies may be exchanged for value under one network.
The European Commission’s bill underpins the right of every resident in the eurozone to pay for free with the digital euro while protecting user privacy and security.
The European Central Bank intends to achieve financial inclusion through several initiatives, including providing physical digital euro payment cards, in-person support, and defunding through cash.