The European Central Bank (ECB) expressed support today, June 28, for the European Commission’s legislative proposal aimed at creating a regulatory framework for a digital euro. The legislation aims to ensure that the digital euro could be universally utilized throughout the euro area, like traditional banknotes and coins.
The ECB stated it is awaiting the decision by its Governing Council this fall on whether to progress to the next phase of the digital euro project. This announcement follows the Commission’s legislative proposal publication regarding the digital euro today.
With the legal tender status proposed for the digital euro, it is anticipated to be widely accepted as a valid means of payment. The legislation also suggests that individuals could access digital euros through their bank upon request, thus ensuring its availability to all.
In addition to free basic services for digital euro use, the legislative proposal includes economic incentives for private intermediaries
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