The European Parliament said its Economic and Monetary Affairs Committee adopted its position on the single currency package on Tuesday, including the file establishing a digital euro. The digital euro text passed by 43 votes to 14, with 1 abstention, giving committee-level support to a central bank digital payment framework.
The proposal affects EU citizens, businesses, banks, payment service providers and regulated crypto-asset providers that could distribute the digital euro. MEPs want it to work online and offline, include privacy-by-design safeguards, remain free for basic services and operate with holding limits, making sovereignty, privacy and financial stability the core design tests.
The next point to watch is the formal July plenary announcement of negotiating mandates for the three texts. Final legislation still has to be negotiated with the Council before entering into force, so the ECON vote advances the file but does not launch the digital euro yet.
Source: European Parliament.
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