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ECB Targets Mid-2029 Launch for Digital Euro Amid Payment Sovereignty Push
ECB Targets Mid-2029 Launch for Digital Euro Amid Payment Sovereignty Push
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BTCCSquare news:
The European Central Bank aims to introduce a digital euro by mid-2029, accelerating efforts to reduce reliance on private payment giants like Visa and PayPal. Executive Board member Piero Cipollone cited progress in discussions with eurozone finance ministers, including agreement on customer holding limits for the proposed central bank digital currency.
Over 130 countries are currently developing CBDCs, with China's digital yuan leading global adoption. The ECB faces legislative hurdles in the European Parliament, where a final decision on the project could come as early as May 2026. The MOVE comes as dollar-backed stablecoins gain traction, potentially threatening the eurozone's monetary autonomy.
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