ECB Says Digital Euro Is Ready as Decision Shifts to EU Lawmakers

Core Viewpoint - The European Central Bank (ECB) is prepared to launch a digital euro following the completion of technical and preparatory work, with the project currently under review by the European Council and the European Parliament [1][2]. Group 1: Digital Euro Overview - The proposed digital euro aims to serve as a public digital currency with legal tender status, enhancing financial stability, monetary sovereignty, privacy, and inclusion while improving Europe's payment infrastructure [3]. - As a retail central bank digital currency (CBDC), the digital euro will ensure the availability of central bank money to the public, providing a modern and cost-effective payment method with a high level of privacy in digital transactions [4]. Group 2: Legislative Process and Privacy - The ECB emphasizes that while technical preparations are complete, a clear legal basis is necessary for the launch, making the legislative process a critical step forward [5]. - The final decision to issue the digital euro will be made by the ECB's Governing Council, with privacy features integrated into its design, ensuring that the Eurosystem does not access users' personal data while regulated intermediaries handle compliance with EU law [6].