The European Union’s finance chief announced that a bill introducing a digital euro will be hitting tables in the European parliament as early as 2023.
As first reported by Politico, EC finance chief Mairead McGuinness officially disclosed the European Union’s formal consideration of digital euro legislation at a fintech conference on Wednesday.
"Our goal is to table legislation in early 2023,” the commissioner for financial service said. “A targeted legislative consultation in the coming weeks.”
The European Central Bank (ECB) is already experimenting with designs and systems for a digital euro, with a prototype expected sometime in late-2023.
If a digital euro is to be implemented, it will require the seal of approval from Eurozone governors. If they give the green light, then the digital euro could be ready for issuance by 2025.
