In a recent interview with Les Echos, European Central Bank (ECB) board member Fabio Panetta gave a brief overview of the digital euro project. He says the central bank digital currency (CBDC) launch could still take three to four years and that the privacy balance will be determined by European legislators. He also explained the logic of the €3,000 ($3,214) cap but noted that larger payments could still be possible.
According to Mr Panetta, the digital euro launch is not expected for another “three or four years.” The ECB is taking a cautious approach and consulting with other European institutions to ensure the design, distribution, and impact of the CBDC are carefully assessed. Some have questioned whether this will be enough time to pass laws that will also need to be implemented nationally, but Mr. Panetta did not address these concerns.
A vote in October will decide whether the ECB should proceed with the technical implementation phase.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
