ECB Reveals Digital Euro Progress, Launch Decision by End of 2025
The European Central Bank (ECB) has released its second progress report on the digital euro. This update comes after the Eurosystem began a two-year preparation phase in November 2023. The Governing Council is set to decide on launching the central bank digital currency (CBDC), also known as the 'digital dollar' or 'euro to USD', by the end of 2025, subject to regulatory approval.
The ECB, which oversees the development of the digital euro, has been studying the possibility of a CBDC for several years. The progress report details advancements in creating a Rulebook, outsourcing tasks, user design research, and addressing design issues such as holding limits. If approved, the ECB and its governing council will manage the issuance and coordination of the 'digital dollar'.
The decision on the digital euro's implementation stages is expected by the end of 2025.
The ECB's second progress report on the digital euro outlines significant developments in its preparation phase. The Governing Council will decide on its launch by the end of 2025, pending regulatory approval. The ECB continues to oversee and coordinate the digital euro's development, with a focus on creating a robust Rulebook and addressing user design concerns.
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