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ECB hopes to have political deal on digital euro by early 2026

  • The European Central Bank aims to finalize a political agreement by early 2026 to enable issuing a digital euro accessible to all Europeans.
  • This effort responds to declining cash use and rising digital payments that risk reducing public money's role amid growing reliance on private providers.
  • A member of the ECB's executive board highlighted that the digital euro is intended to work alongside cash, safeguard user privacy, and impose no restrictions on spending, thereby maintaining monetary sovereignty.
  • The ECB launched an innovation platform with 70 organizations to test functionalities like conditional payments, targeting completion of the preparatory phase by October 2025.
  • Once legislation is approved, the ECB expects a two- to three-year rollout period, highlighting the digital euro’s potential to strengthen Europe’s monetary independence.
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crypto.news broke the news in on Thursday, May 15, 2025.
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