European Central Bank (ECB) Executive Board member Piero Cipollone called for European Union negotiators to reach a deal on digital euro legislation by year-end to keep a possible 2029 launch on track.
Speaking at the European Parliament’s Committee on Economic and Monetary Affairs on Tuesday, Cipollone said adoption of the regulation, part of the EU’s Single Currency Package, would give the ECB the legal certainty it needs to complete preparations.
“A delay in adoption could instead postpone the introduction of the digital euro,” Cipollone said, warning that a later launch could deepen Europe’s dependence on foreign payment providers and make it harder for European companies to compete.
The ECB aims to be ready for a potential first issuance in 2029 if the EU adopts the regulation this year. Its Governing Council will decide whether and when to issue the digital euro after the legislation passes.
The European Parliament’s…
