At a conference hosted today by the Banque de France, EU Commissioner Mairead McGuinness said that the Commission plans to propose legislation for a ‘possible’ digital euro in 2023 to enable parliament and the European Council to debate it.
The digital euro work is currently in the prototyping phase, and Banque de France Governor François Villeroy de Galhau confirmed that a decision on whether to proceed would be made at the end of 2023, with a potential launch in 2026 or 2027.
While work on a euro central bank digital currency (CBDC) has focused on the retail side, earlier this week, the ECB confirmed it is also considering a wholesale CBDC for interbank payments.
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