Summary
- European Union (EU) finance ministers said they have moved closer to forming a common position on the introduction of the digital euro.
- They reported that the digital euro would operate alongside private bank deposits, and that discussions covered e-wallets, issuance, and individual holding limits.
- They said actual issuance of the digital euro is expected to require a preparatory period of up to 3 years after legislation is prepared by June 2026.
On the 22nd, according to crypto asset (cryptocurrency) specialist media The Block, European Union (EU) finance ministers moved a step closer to forming a common position on the introduction of the central bank digital currency (CBDC) known as the digital euro.
At a meeting in Copenhagen, ministers discussed options such as operating the digital euro alongside private bank deposits and allowing consumers and merchants to use e-wallets based on the Eurosystem balance sheet.
The agreement draft included provisions to give EU ministers a say on whether to issue it and on individual holding limits.
Christine Lagarde, president of the European Central Bank (ECB), emphasized, "The digital euro is a political statement that goes beyond a mere means of payment, demonstrating Europe's sovereignty and independent infrastructure." However, actual issuance is expected to take years. The ECB expects to prepare the relevant legislation by June 2026 and then undergo a preparatory process of up to 3 years.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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