EU Digital Euro Plan Hits Roadblock as Negotiations Drag On

The European Central Bank (ECB) is working on the digital euro, an electronic version of the euro that will sit alongside cash rather than replace it. The regulation is still being negotiated between the European Parliament and the Council of the EU, with a goal to have a deal by the end of the year and first issuance expected in 2029.

The digital euro has been designed to offer a public European infrastructure for digital payments, reducing reliance on US operators such as Visa and Mastercard. The project also aims to provide adequate safeguards for privacy, particularly in offline use.

One of the key points still under discussion is the holding limit, with the ECB proposing a cap of up to 3,000 euros per person. However, the figure is not yet confirmed and will be determined by either the European Commission or member states through an implementing decision.