EU finance chief says digital euro bill coming in early 2023
The European Union’s finance chief announced that a bill introducing a digital euro will be hitting tables in European parliament as early as 2023. The European Commission has announced that a bill for a digital euro will be proposed in 2023. As first reported by Politico, EC finance chief Mairead McGuinness officially disclosed the EU’s formal consideration of digital euro legislation at a fintech conference on Wednesday. "Our goal is to table legislation in early 2023,” the Commissioner for Financial Service said. “A targeted legislative consultation in the coming weeks."The European....
Related News
The executive arm of the EU is gearing up to start public consultations on the digital euro project next month. The European Commission will also prepare new legislation to establish the legal basis for the digital version of the common European fiat. A draft is expected in 2023.
EU Finance Chief Announces Legislative Plan for Digital Euro
The European Commission (EC) is planning to put forward a bill tailored to lay down the legal foundation for a digital euro currency, Politico reported this week. The legislation will support the European Central Bank (ECB) in its efforts to....
The president of the European Central Bank (ECB), Christine Lagarde, says that a digital euro will not replace cash but would complement it. “A digital euro would give you an additional choice about how to pay and make it easier to do so, contributing to accessibility and inclusion,” the ECB explained.
Digital Euro to Complement Cash
ECB President Christine Lagarde talked about the digital euro at the plenary session of the European Parliament Monday on the 20th anniversary of the introduction of euro banknotes and coins.
“Last year, we....
Olli Rehn believes a digital euro "in one form or another" is all but inevitable.
The decision on how to launch a digital euro could still be a long time coming. Financial authorities in Europe could form an investigation plan for a digital euro as early as next year, according to an executive at the European Central Bank.Holger Neuhaus, head of market innovation and integration division at the ECB, joined the Singapore FinTech Festival 2020 on Dec. 7 to discuss the global development of central bank digital currencies, or CBDCs.During the online discussion, Neuhaus claimed that the ECB expects European financial authorities to assess whether to launch a digital euro....
The five fintech, payments and e-commerce firms will create front-end prototypes for the digital euro, which will not be used in later phases of the CBDC project. The European Central Bank, or ECB, has announced it will be collaborating with five companies for the development of potential digital euro user interfaces.In a Friday announcement, the ECB said it had chosen "Big Four" tech company Amazon, fintech firm Nexi, Spanish digital bank CaixaBank, French payments platform Worldline and the European Payments Initiative, or EPI, to each focus on developing a prototype based on specific....