EU Finance Chief Says Digital Euro Bill Coming In Early 2023

The European Commission (EC) has announced that a bill for a digital euro will be proposed in 2023.

At a fintech panel discussion on Wednesday, EC finance chief Mairead McGuinness unveiled that the EU is starting to formally consider digital euro legal aspects.

The financial services commissioner explained that the objective of the EC is to present the bill at the beginning of 2023. “In the upcoming weeks, we will focus on regulatory discussion.”

The European Central Bank is currently testing concepts and technologies for a digital euro, with a working prototype expected in late 2023.

If EU leaders give the go-ahead, the European cryptocurrency might be in circulation by 2025.