European Commission to draft a digital euro bill in 2023

The consultations on options for the use of a CBDC will start soon

11.02.2022 - 07:15

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What’s new? The European Commission will introduce a bill on a central bank digital currency (CBDC) in early 2023. This was revealed to Politico by European Commissioner for Financial Services Mairead McGuinness. She added that the consultations will begin shortly.

Material on Politico’s website

How will the document be reviewed? In March 2022, the European Commission is to hold public consultations on scenarios for the use of a CBDC. The results will identify options for the use of a digital euro in daily payments, as well as measures to mitigate the risks of destabilizing the European financial system.

If regulators deem the launch of the digital euro appropriate, it will not take place before 2025, the European Commissioner noted.

At the beginning of 2021, the European Commission held a public debate on CBDC. Then the main problem for the survey participants was the confidentiality of payments.

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