The European Commission Opens Consultations on the Digital Euro
Main page News, European Union, CBDC

The European Commission (EC) has asked financial services professionals to express their views on the possible introduction of the digital euro into the financial system.

According to the European Commission's Directorate-General for Financial Stability, Financial Services and Capital Markets Union (FISMA), the institution is examining the potential impact of central bank digital currencies on financial service providers, retailers and users.

The EC plans to contact experts on international payments, privacy and the impact of the digital euro on the financial sector and financial stability.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

In addition, the European Commission will study how to implement scenarios for the use of the digital euro alongside cash payments, anti-money laundering and anti-terrorist financing regulations.

The document published by the EC reads:

"For a digital euro to be used as the single currency, concurrently with euro banknotes and coins, it would require a regulation of the co-legislator, upon a proposal by the Commission. In addition, further legislative adjustments to the current EC legal framework may be necessary to accommodate the digital euro and, possibly, digital currencies issued by non-euro area central banks."

Read also:
Please describe the error