Eurosystem – DIGIT INFO

ECB Publishes Digital Euro’s First Progress Report

DIGIT — Wed, 26 Jun 2024 01:07:21 +0000

The European Central Bank (ECB) has published its first progress report on the digital euro preparation phase, highlighting key design features and ongoing developments. The report emphasizes high privacy standards for both online and offline payments, aiming to provide users with a cash-like level of privacy. First Progress Report on the Digital Euro Preparation Phase […]

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Study: Half of Surveyed Germans ‘Imagine Using a Digital Euro as an Additional Payment Option’

DIGIT — Wed, 05 Jun 2024 01:55:15 +0000

A new report has found that half of Germans who participated in a survey study can “imagine using a digital euro as an additional payment option.” However, the study also revealed that some three-quarters of the respondents view the “aspect of privacy in connection with the use of the digital euro as very important or […]

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Core Inflation on Upward Trend, Further Rate Hikes Expected, ECB Execs Say

DIGIT — Fri, 07 Apr 2023 17:30:28 +0000

Amid underlying inflationary pressures, further interest rate increases may still be needed, members of the European Central Bank’s Governing Council have admitted. At the same time, the cycle with the highest hikes may soon be over, the officials indicated. End of Most Aggressive Rate Hikes in Sight Despite Inflation, but More to Come Before It’s […]

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ECB to Decide Whether to Issue Digital Euro in 2023

DIGIT — Sat, 24 Dec 2022 11:30:15 +0000

The European Central Bank (ECB) has published a new report on the progress of its investigation into the possible launch of a digital euro. 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. ECB to Develop […]

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Cryptocurrency Is ‘Based on Nothing,’ Should Be Regulated, ECB’s Lagarde Says

DIGIT — Sat, 21 May 2022 13:34:40 +0000

President of the European Central Bank Christine Lagarde has insisted that unlike a digital euro, cryptocurrency has no underlying asset. It should be regulated to prevent people from losing their life savings by speculating on crypto assets, the top ECB official has suggested. Cryptocurrency Is ‘Worth Nothing,’ ECB Governor Claims The head of the eurozone’s […]

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ECB Favors Transparency Over Privacy in Digital Euro Design, Presentation Reveals

DIGIT — Thu, 05 May 2022 13:30:46 +0000

The European Central Bank (ECB) leans toward a “transparent” digital euro over one that ensures a higher level of privacy for its users, a presentation devoted to the project has indicated. In the document, the monetary authority explores different privacy options for the eurozone’s digital fiat. User Anonymity Not Desirable for Digital Euro, ECB Says […]

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Eurosystem Seeks Providers of Prototype Payment Solutions for Digital Euro

DIGIT — Sun, 01 May 2022 12:30:54 +0000

Eurozone’s monetary authority, the Eurosystem, is looking to enlist financial companies willing to develop front-end solutions for the digital euro. The plan is to carry out a “prototyping exercise” this year to test transactions to the back-end developed by the regulator. Eurosystem to Select Front-End Providers for Digital Euro Project Within the ongoing investigation into […]

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European Commission to Launch Digital Euro Consultations in March, Propose Bill Early Next Year

DIGIT — Mon, 14 Feb 2022 09:30:39 +0000

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 […]

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ECB Paper Marks Success Factors for CBDCs, Digital Euro

DIGIT — Sat, 04 Dec 2021 11:49:43 +0000

A paper published by the European Central Bank (ECB) discusses various conditions for successful implementation of central bank digital currencies (CBDCs) such as the eurozone’s own digital euro. The authors also point to different risks that such projects entail, like the danger of crowding out the private sector. ECB: Digital Euro Should Be Widely Used […]

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Eurosystem Approves New Oversight Framework Concerning Crypto Services

DIGIT — Tue, 23 Nov 2021 14:30:19 +0000

The monetary authority of the euro area, the Eurosystem, has introduced a new framework for overseeing electronic payments, including services related to crypto assets. The new set of rules will complement upcoming EU regulations for cryptocurrencies and stablecoins. ECB Aims for Secure and Efficient Digital Payments Through Improved Oversight Following public consultations on the matter, […]

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