European Union Accelerates Digital Euro Transactions. The European Commission will soon issue regulations for central bank digital currency (CBDC).
The European Commission will soon issue regulations for central bank digital currency (CBDC). The European Central Bank’s Digital Euro Project focuses on the digitalization of the central bank’s currency.
In Europe, different words are spoken in this direction. Work continues for the digital euro
Research continues on legislative proposals and operational standards for the implementation of the digital euro project in Europe.
The President of the European Central Bank Christine Lagarde said that soon the European Commission will present a legislative proposal and a legal framework that will give citizens and digital businesses the euro.
The President of the European Central Bank (ECB) Fabio Panetta said that the digital currency of the European Union Central Bank (CBDC) can have a commercial scope and a high security value for individuals. He also said that the digital euro service will be a support for commercial payments and not a challenge for the functioning of the financial system.
When will the digital euro come out?
The digital euro digital currency will end in September 2023, and is a reflection of the European Central Bank’s decision to create a central bank digital currency. With the legislative proposal, the work of the CBDC will be able to continue.