ECB expresses support for European Commission's digital euro proposal

CryptoSlate
CryptoSlate

28 Jun 2023 4:11 PM

The European Central Bank has indicated that it stands ready to proceed with a digital euro, but it insists cash must remain available....

  • The European Central Bank (ECB) supports the European Commission's legislative proposal for a regulatory framework for a digital euro.
  • The legislation aims to ensure universal utilization of the digital euro throughout the euro area.
  • The ECB is awaiting a decision by its Governing Council in the fall to progress to the next phase of the digital euro project.
  • The digital euro is anticipated to be widely accepted as a valid means of payment and individuals can access it through their banks.
  • The legislative proposal includes economic incentives for private intermediaries to distribute the digital euro and emphasizes privacy and data protection.
  • The digital euro project's investigative phase will conclude in October 2023.

The overall sentiment of the article is positive. The ECB expresses support for the legislative proposal and emphasizes the importance of the digital euro in the digital age.

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You May Ask

What is the European Central Bank's stance on the European Commission's legislative proposal for a digital euro?What is the purpose of the legislative proposal?How will individuals access the digital euro?What incentives are included in the legislative proposal for private intermediaries?When will the digital euro project's investigative phase conclude?

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