Europe is closer to the introduction of a digital euro after the European Commission today proposed a law that would make such a thing possible. This being Europe, privacy is central to the pitch—but there are big questions around how that’s going to be achieved.
The European Central Bank is technically still just looking into the idea of creating a digital version of the euro—which is used in 26 countries—and it will only close that investigation in October. But the ECB needs to see a legal framework for a digital euro before making that decision, and that train is now in motion.
