Cryptheory: NFT, Play-to-Earn, Crypto News

24/7 crypto news, cryptocurrency meaning, guides, learning, #cryptohelpschildren

European Central Bank Kicks Off The Digital Euro Project

1 min read

The European Central Bank (ECB) has decided to start the investigation phase of the central bank digital currency (CBDC) project.

The investigation phase is expected to last for 24 months, focusing on tackling key issues surrounding design and distribution.

It is crucial for a digital euro to meet the needs of Europeans, while also preventing illicit activities and avoiding negative impact on financial stability and monetary policy. The bank stated that a digital euro is a complement to cash, not a replacement.

We will engage with the European Parliament and other European decision-makers and inform them regularly about our findings. Citizens, merchants and the payments industry will also be involved.

 

Fabio Panetta, ECB Board Member and Chair of the High-Level Task Force

A research by ECB last year found that the usage of cash has dropped since 2019, with the COVID-19 pandemic further accelerating the long-term decline.

The post European Central Bank Kicks Off The Digital Euro Project appeared first on SuperCryptoNews.

Source

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

Leave a Reply

Your email address will not be published.