The eagerly anticipated launch of the digital euro has hit another barrier as an analytical document from the European Parliament’s Committee on Economic and Monetary Affairs which was published in April highlighted that the digital euro is not yet ready for launch . The recent suspension of the Digital Euro Bill by the European Commission further emphasizes that the EU’s position on the matter has not changed .
Leaked Details and Ongoing Talks Raise Doubts
Recent leaks regarding technical and privacy aspects of the digital euro have caused concerns . Reports suggest that the original legislative text proposed prohibiting banks from paying interest on digital euros and merchants from charging for their use . Furthermore discussions among eurozone finance ministers revealed ongoing deliberations and the need for a clear narrative on the added value of the digital euro for the economy and citizens’ lives .
New Publication Date Uncertain
With the European Commission’s suspension of the Digital Euro Bill the scheduled examination in May was postponed to June 28 . However given the leaked details and ongoing talks it is not surprising that the publication of the bill has been further delayed . The European Commission has yet to announce a new publication date which leaves supporters of the European Central Bank’s digital currency eagerly awaiting its release .
Final Thoughts
The launch of the digital euro faces continued setbacks as the European Commission suspends the bill and cites concerns regarding technical aspects and privacy issues . With ongoing discussions among eurozone finance ministers and the need for a compelling narrative on the digital euro’s value the publication of the bill remains uncertain . Despite the delays the European Central Bank reaffirms the importance and necessity of the digital euro thus keeps supporters hopeful for its eventual release .