Commission paves way for digital euro

Whether and when the digital euro will come is for the ECB to decide. But the Commission has now made a proposal as to what the legal framework for a future digital currency might look like. Important is: It should complement cash, not replace it.

On Wednesday, the Commission presented its legislative proposal for the digital euro. The Commission simultaneously presented proposals in the single currency package to strengthen the euro as cash so that no one has to fear being unable to pay with bills and coins in the future. However, as more and more people chose to pay digitally, the euro should also offer this option, said Executive Vice President Valdis Dombrovskis. „A digital euro would complement cash, but not replace it.“

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