The European Central Bank (ECB) has published the latest status report on digital euro work, following a previous update in September. A future retail central bank digital currency (CBDC) will be intermediated so that the central bank doesn’t have to manage consumer relationships directly. The report highlights the split of roles between the ‘supervised intermediaries’ or commercial banks and the Eurosystem’s central banks.
The Governing Council of the European Union will make a final decision on whether to issue a digital euro late next year.
Like physical cash, the digital euro will be a direct liability of the Eurosystem central banks. Also similarly to cash, banks will distribute the digital euro and perform anti-money laundering checks.
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.
