ECB Unveils Digital Euro Rulebook, Sparks Debate Over Adoption

The European Central Bank (ECB) is moving forward with its digital euro project, releasing a new rulebook that outlines how the system will work.

The rulebook covers various aspects of the digital euro, including customer journeys and APIs, merchant acceptance, fraud, disputes, settlement, security, and certification.

According to Chris Skinner, there is a strong argument for introducing the digital euro as it would give Europeans a digital equivalent of cash while creating a common payment layer across the euro area.

This could increase competition, reduce merchant dependence on existing networks, improve resilience through offline payments, and provide European banks and fintechs with common infrastructure to build new services.