The European Central Bank (ECB) has made progress. The “digital euro” is halfway done. along with clarification on usage issues and important policies

The European Central Bank (ECB) has announced the progress of the project. The “digital euro” is halfway there, with the ECB published a progress report on September 29, looking at design and policy issues that are currently being considered or have been settled.

reportsaid Trade in both physical stores and online is the largest use case for the Eurozone Central Bank Digital Currency (CBDC), with most digital payment solutions having access restrictions and not from Europe. Thus, the digital euro can harmonize payment solutions. and strengthening Europe’s strategic independence in line with its policy goals.

“The digital euro will maintain the role of public money. as the anchor of the payment system in the digital era.”

The report suggested that The digital euro will have privacy requirements similar to today’s digital payment options. It may offer more privacy for low-value, low-risk transactions.

In addition, the digital euro will limit its holdings in large numbers. and designed to limit its use as an investment tool. There may be a holding limit set.

European Commission It will propose regulations for the establishment of the digital euro in the first quarter of 2023, with a decision in October 2023 whether to continue development and testing.

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