The European Commission and the European Central Bank (ECB) are to consider launching a digital euro project towards the middle of 2021.

“Such a project would answer key design and technical questions and provide the ECB with the necessary tools to stand ready to issue a digital euro if such a decision is taken,” the two institutions say in a joint statement. 

“The ECB and the European Commission services are jointly reviewing at technical level a broad range of policy, legal and technical questions emerging from a possible introduction of a digital euro.”

The ECB launched a public consultation on the introduction of a digital euro as a central bank digital currency in November 2020.

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