European Central Bank Moves Forward on CBDC Project After Concluding 2-Year Research Phase

On October 18, the ECB Governing Council stated that it had decided to move to the next phase of the digital euro project.

“The launch of the preparation phase is not a decision on whether to issue a digital euro,” it confirmed. The proposed digital euro would be a digital form of cash, allowing private offline payments. It would be widely accessible, free for basic use, and offer the highest privacy standards, according to the

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