Following the European Central Bank(ECB) to progress the digital euro to the ‘preparation phase’, German newspaper Frankfurter Allgemeine Zeitung set out to learn more about the central bank digital currency (CBDC). During an interview, Burkhard Balz. Executive Board of the Deutsche Bundesbank, talked about potential delays in the passage of laws to support the digital currency.
The first draft of the digital euro legislation was published in June.
When asked why the digital euro is taking so long, the central banker’s initial response was legislation. “We have to wait for the political decisions to be made. This is not something the Governing Council of the ECB can decide on its own,” he said.
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