Digital Euro System Now Underway in Europe, EU Commission Says It ‘Won’t Replace Cash’ - The Daily Hodl

The Daily Hodl
The Daily Hodl

28 Jun 2023 6:41 PM

The European Commission has proposed a legislative plan for the launch of a new digital euro payments system, one that it says will not replace the use of physical cash. ...

  • The European Commission has proposed a legislative plan for the launch of a new digital euro payments system.
  • The plan aims to provide both payment options, cash and digital, to meet the growing trend of digital payments while still acknowledging the preference for physical cash.
  • The proposal includes a framework for launching the digital euro and measures to safeguard the use of cash.
  • The European Central Bank (ECB) supports the proposals and is ready to provide technical input for the rollout of the digital euro.
  • The ECB emphasizes the importance of ensuring the digital euro brings value to people and maintains the accessibility and acceptance of euro cash.

The sentiment of the article is generally positive, as it highlights the European Commission's efforts to adapt to the growing trend of digital payments while still valuing physical cash. The support from the European Central Bank further adds to the positive sentiment.

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You May Ask

What is the purpose of the European Commission's proposed legislative plan?How does the Commission address the preference for physical cash while promoting digital payments?What are the two sets of measures proposed by the Commission?How does the European Central Bank support the launch of the digital euro?What are the key considerations mentioned by the ECB regarding the digital euro and the use of cash?

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