The Eurosystem moves to the next phase of the digital euro project

Summary:

The European Central Bank's (ECB) Governing Council has decided to move forward with the next phase of the digital euro project, which is the preparation phase. This decision does not imply a decision on the issuance of a digital euro, as this will be considered only once the EU's legislative process is completed. The Eurosystem will take into account any necessary adjustments to the characteristics of a digital euro that may arise from legislative decisions. A digital euro would coexist with cash, not replace it.