Europe Accelerates Digital Euro Plan Amid Resistance
The European Central Bank has escalated its digital euro initiative, approving a technical preparation phase aimed at a potential 2029 launch. This MOVE positions the eurozone to compete with private digital currencies and foreign central bank digital currencies (CBDCs), while reinforcing monetary sovereignty.
Key infrastructure testing and pilot development will dominate the next two years, with legislative approval targeted by 2026. The project faces heated debates across European institutions, particularly regarding privacy safeguards and the balance between centralized control and financial innovation.
Unlike decentralized cryptocurrencies like BTC or ETH, the digital euro represents a state-backed electronic payment system. Its development coincides with growing global CBDC experimentation, creating both competitive pressures and potential interoperability challenges for existing crypto assets.
