European Commission outlines vision for digital euro
The European Commission on Wednesday released a proposal for a digital euro that would insure free access to the CBDC across the bloc....
- The European Commission has proposed a digital euro that would provide free access to the central bank digital currency (CBDC) across the European Union.
- The proposal aims to establish a legal framework for digital euro payments, allowing transactions to be made from device to device, both online and offline.
- The digital euro would coexist with existing payment methods and function as a digital wallet for individuals and businesses in the euro area.
- Privacy and security are emphasized, with the proposal aiming to provide the same level of protection as existing digital payment methods.
- The European Central Bank (ECB) will ultimately decide whether to issue the digital euro, with a decision expected in the coming months.
The sentiment of the article is generally positive, highlighting the potential benefits and advantages of introducing a digital euro. The proposal is seen as a step towards modernizing the currency and ensuring it is fit for the digital age.