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EU Pushes Ahead with Digital Currency Proposal for 2023

Sept. 9, 2022, 1:44 PM

The European Commission will next year propose a law to introduce a digital version of the euro, though discussions are still underway on some issues, the bloc’s top economy official said Friday.

There are outstanding questions on how the digital euro would be used, its status as legal tender, and striking a balance between privacy of transactions and their traceability, said EU economy commissioner Paolo Gentiloni, after a meeting of the Eurogroup of euro-area finance ministers.

  • The digital euro—an alternative to physical cash—would be kept in digital wallets and exchanged electronically between individuals or between individuals and merchants, either online ...