The Regulatory Proposal by the EU Commission on the digital euro

Jun 29, 2023 | CBDC, Digital Euro

Important milestone around the digital euro! On Wednesday June 28, the European Commission published its perspective on the digital euro and suggested a concrete regulatory proposal.

10 Key Recommendation by the Commission (from the proposal):

1️⃣ The digital euro should become legal tender, thus, needs to be accepted by payees.The digital euro should be made accessible to every citizen.

2️⃣ All banks should offer their customers services related to the digital euro („Basic Services“). Public institutions (such as authorities or post offices) should also distribute the digital euro.It should also be possible to obtain the digital euro without a bank account.

3️⃣ Initially, the digital euro should be offered to natural and legal persons located in the EU, as well as tourists: Later: possibly also accessible for third countries.

4️⃣ The digital euro should be provided to citizens free of charge, while merchants may charge fees that should be limited.

5️⃣ The digital euro should not bear interest.

6️⃣ The digital euro should also be offered offline.

7️⃣ The digital euro should protect privacy. Here, I will do a deep dive next week. A lot to unpack here.

8️⃣ The digital euro should have limits.

9️⃣ The digital euro should not be programmable money.

🔟 The digital euro should support use cases related to Industry 4.0 and Web3, offering possibilities for conditional payments.

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