The European Commission has called on financial services professionals to consider and study the possibility of introducing a digital euro.
The European Commission's Directorate-General for Financial Stability and Financial Services and the Capital Markets Association of the European Commission said on Tuesday that it would prepare an assessment of the central bank's digital currency based on the expected impact on service providers. Finance, individual users and chambers of commerce.
The committee will consult with industry professionals on issues related to the digital euro including international payments, privacy, impact on the financial sector and financial stability, use cases besides cash payments and anti-money laundering and terrorist financing rules.
The consultation document said that in order to use the digital euro as a common currency, in conjunction with euro banknotes and banknotes, it would require regulation by the participating legislator, based on a proposal by the Commission. .
Furthermore, additional legislative amendments to the current EU legislative framework may be required to adapt to a digital euro and possibly digital currencies issued by central banks of non-member states in the eurozone.
It will complement that digital euro consultation by the European Central Bank, which recently released findings from focus groups mandated in September 2021.
Feedback from the general public and merchants has suggested that the potential rollout of the digital euro could benefit from both online and physical retail use cases. The European Commission will accept responses until June 14.
