Europe’s Digital Euro Hits Another Roadblock: 2029 Launch Now on the Horizon

Brussels pushes digital currency timeline back yet again—raising questions about Europe's ability to compete in the global crypto race.

The Bureaucratic Bottleneck

European Central Bank officials confirm what crypto insiders suspected all along: regulatory hurdles and political infighting have stalled progress on the digital euro project. The 2029 launch date marks the third delay in as many years.

Missing the Crypto Wave

While private cryptocurrencies continue evolving at lightning speed, EU lawmakers remain stuck debating privacy concerns and technical specifications. The four-year extension puts Europe dangerously behind China's digital yuan and emerging CBDC projects across Asia.

Banking Sector Relief?

Traditional financial institutions quietly celebrate the reprieve—the delayed timeline gives them more breathing room to adapt their business models. Meanwhile, crypto natives shrug at another centralized digital currency struggling to find its purpose.

At this rate, Europe's 'digital euro' might launch just in time to be obsolete—the ultimate government project timeline.

TLDR

• ECB Executive Board member Piero Cipollone expects digital euro launch around mid-2029
• European Parliament legislation remains the main obstacle to progress
• EU finance ministers reached compromise on holding limits in September 2024
• ECB will decide in October 2025 whether to move to next development phase
• Parliamentary position expected by May 2026 after October 2024 progress report

The European Central Bank’s digital euro project faces another delay, with launch now expected around mid-2029 rather than earlier projections. ECB Executive Board member Piero Cipollone shared this timeline at the Bloomberg Future of Finance event in Frankfurt on September 23.

🇪🇺 EU WANTS TO FOLLOW CHINA’S CBDC, NOT AMERICA’S STABLECOINS 🤦

Lagarde praises China’s pilot as “of service to all citizens.”

The ECB is in the prep phase now, aiming to roll out a digital euro by 2028–2029.

The message is clear: Europe leans toward central bank control,… pic.twitter.com/ZkEHboiGV9

— CryptosRus (@CryptosR_Us) September 23, 2025

Cipollone described positive momentum at the member-state level. He said discussions among finance chiefs are progressing well and political alignment is growing across Europe.

The ECB official pointed to a recent breakthrough with euro-area finance ministers. They agreed on customer holding limits for the digital currency, providing new momentum for the long-running project.

However, European Parliament legislation remains the primary hurdle. Cipollone outlined the legislative schedule ahead, with lawmakers facing tight deadlines for amendments and debates.

A member of European Parliament will deliver a progress report on October 24. Following this report, lawmakers will have six weeks to propose amendments and five months for discussions.

Legislative Timeline Taking Shape

Cipollone expects Parliament to have a position on the digital euro by May 2026. He emphasized the need for a general agreement among member states by the end of 2024.

European Union finance ministers reached a compromise on the digital euro roadmap on September 19 in Copenhagen. The deal followed talks with ECB President Christine Lagarde and European Commissioner Valdis Dombrovskis.

The agreement gives finance ministers a role in the decision to issue the currency. They will also help determine individual holding limits for users.

Irish Finance Minister Paschal Donohoe chairs the Council of Ministers. He said the deal creates opportunity for discussion before the ECB makes final decisions.

Development Phases Continue

The compromise advanced plans for setting holding limits on the digital currency. Policymakers view these limits as essential for addressing financial stability concerns and preventing deposit outflows from commercial banks.

The ECB officially introduced the digital euro project in October 2020. The central bank completed its investigation phase in November 2023 and moved into a preparation phase.

This preparation phase is set to finish by October 2025. The ECB will then decide whether to MOVE to the next development phase.

An ECB spokesperson confirmed that parliamentary progress reports will continue. The October 24 report marks the next key milestone in the legislative process.

The project has faced skepticism from various stakeholders. Banks, lawmakers, member states and potential users have raised concerns about privacy and implementation.

Supporters argue the digital euro could enhance payment efficiency and reduce dependence on private payment operators. They also see it as a counterbalance to dollar-backed stablecoins gaining traction in European markets.

The European Commission published a legal proposal for the digital euro in June 2023. However, progress within the European Parliament has remained limited since then.

The digital euro project represents one of Europe’s longest-discussed financial initiatives, now entering its fifth year of development.