The research will continue next year with the regulator planning to make a decision whether to proceed to the realization of the project in the fall of 2023.The eurozone’s central bank has released a secondon the advance of the investigation phase of its project to issue a digital version of the common European currency.
Just like banknotes today, a digital euro would be a liability on the balance sheet of the Eurosystem, the monetary authority of the eurozone consisting of the ECB and the national central banks of the member states. Therefore, the Eurosystem must be in full control over the digital euro issuance and settlement, the regulator explains.
Supervised intermediaries, such as credit institutions and payment service providers, will distribute the digital euro to end users — individuals, merchants, and businesses — open digital euro wallets, process payments and provide other related services. Conducting know-your-customer and anti-money laundering checks will be part of their responsibilities, too. The ECB also emphasizes:
Paying in digital euro should always be an option, irrespective of the entity with which end users open digital euro accounts or wallets and of their country of origin. Further, the European Central Bank assures that the design of the digital euro would minimize its involvement in the processing of user data. “The Eurosystem would not be able to infer how much digital euro any individual end user holds nor to infer end users’ payment patterns,” the monetary authority elaborated.
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How will the digital euro be affected by potential cybersecurity threats?
Will the digital euro be able to protect user privacy while also complying with anti-money laundering regulations?
tether is our choice, not CBDC
How will the digital euro impact the role of traditional banks in the financial system?
Will the use of a digital euro make it easier for individuals and businesses to make payments?
How will the launch of a digital euro affect the eurozone's financial stability?
How will the digital euro impact the use of traditional banknotes in the eurozone?
Will credit institutions and payment service providers be able to effectively distribute the digital euro to end users?
Will the ECB's digital euro be able to minimize its involvement in the processing of user data?
Should the European Central Bank issue a digital euro?
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Why does it kinda sounds like the decision has already been taken..😁
Every country right now going toward digital currency
Digital Euro sounds pretty useless tho. I mean we have Tether.
Sometimes it may take some time
Looks like USDT would be good for them
A good move for the space.
Decision is already made.
They just can use Tether IMHO.
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