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Digital euro: Debunking banks’ fears about losing deposits
On 18 October 2023 the ECB’s Governing Council outlined the scope and key features of a digital euro. The ECB also decided to proceed with the “preparation phase” of the digital euro project. The actual decision on whether to issue a digital euro will be taken at a later stage, but not before the legal framework is in place and all functional features have been specified. Based on the specifications for a digital euro put forward by the ECB and the European Commission, we can expect the digital euro’s features to include pan-European reach, legal tender status and a high level of privacy. A digital euro would ... (full story)