EN
The digital euro will become the official currency of the ECB
According to the initiative, the digital euro will become a new electronic form of money issued by the European Central Bank. It will be possible to use the currency both online and offline.
Confidentiality will become one of the main principles
The future system provides mechanisms for personal data protection. Payment transactions will be verified without disclosing users' personal information, and data processing will be carried out only to the extent necessary for the operation of the system.
Businesses will gradually be obliged to accept the digital euro
Most businesses in EU countries will have to accept the digital euro as a means of payment. At the same time, the requirement will not apply to self-employed persons, as well as small and micro-enterprises that do not use other digital payment instruments.
Basic services will be free
Opening an account, storing funds, managing them and accessing at least one payment instrument will be free of charge. It is also planned to set a limit on the maximum amount of digital euros that one person can hold in order to support the stability of the financial system.
Cash will remain in circulation
In parallel with the introduction of the digital euro, eurozone countries will be obliged to ensure the availability of cash. Shops will not be able to refuse to accept cash without reason, and the authorities will regularly monitor its availability, especially for the elderly, low-income citizens and those who do not use banking services.
The launch of the digital euro is expected in 2029
The first round of negotiations between the European Parliament and the EU member states should begin in the near future. The European Central Bank plans to start testing the digital euro in 2027, and the full launch of the new currency is expected in 2029.