ECB deepens digital euro analysis, decision expected mid-year, vice president approved

Faced with difficulties on many fronts, the European Central Bank is now deepening its analysis of currency digitization. A senior central bank official confirmed that the decision to issue a digital euro with the potential to become a major CBDC in mid-2021 is expected. The central bank of the euro zone should vote for the digital euro project in a few months The ECB is considering a “ cautious exit '' from the social, economic and health emergency imposed on the European Union by the Covid-19 crisis, and also Consider a digital version of the euro, its unit. The Federal Reserve is preparing to showcase digital dollar prototypes in July, this year a Facebook-backed dollar-indexed diary will be released, and China has submitted a request to its citizens for a digital yuan wallet. In this context, the central bank of the euro zone is stepping up its efforts to delve deeper into the possibility of issuing its own digital currency, the ECB told the press. Luis de Guindos. He also confirmed that the bank's board of directors will decide whether to launch a project to launch a digital euro by mid-2021. Speaking to the Italian newspaper La Repubblica, the official said: Our current goal is to deepen analysis of how a digital euro works and what it should look like to benefit European citizens and our economy. De Guindos also noted that central banks around the world are playing a key role in combating the coronavirus outbreak, “and we have to make sure we are well equipped, too,” said De Guindos, according to the English translation of the latest interview published by the ECB this week. to face future challenges on all fronts. In a previous interview with former Spanish Minister of Economy Público, "This is not an option, we have to do this," stressed that the digital euro is not an answer to cryptocurrencies.

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