Digital Euro bill on track for June 28, says EU Commission official.
BRUSSELS, Belgium – The lead financial services official of the European Union confirmed on Tuesday that the European Commission will resume publishing legislation on a digital euro on June 28. The controversial topic was previously removed from the executive’s agenda. Commissioner Mairead McGuinness stated that she will be pushing forward with a bill to establish the central bank digital currency, which will cover topics such as privacy, distribution, and offline transactions. McGuinness mentioned that both proposals, regarding the digital euro plans and a parallel law on the legal status of cash, will be presented next week. There are concerns that the plans for the CBDC could lead to state snooping or undermine the status of banknotes and coins. The topic was removed from the agenda following internal discussions earlier this week, and it was removed from a tentative agenda published by the commission earlier Tuesday. The European Central Bank is set to decide later this year whether to proceed with the project after having examined technical details for several years. McGuinness confirmed that the digital euro has always been on her agenda for next week.
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