ECB gains backing from Council of EU for caps on digital euro holdings

The Council of the European Union, an EU body that amends legislation and commits national governments to adopting the bloc's laws, said it backs the European Central Bank’s plan to explore an official digital currency, calling it an evolution of money and a tool for financial inclusion. In a Friday post on its website, the Council, however, said the ECB will need to set limits on the total value that can be held in online accounts and digital wallets at any one time to “avoid the digital euro being used ...