In accordance with Coinotag, the European Union Council has endorsed the European Central Bank’s digital euro project, supporting both an online version for digital transactions and an offline variant for in-person payments with enhanced privacy. The offline version aims to mimic cash-like anonymity by keeping transaction data between direct participants, while the online version ensures real-time processing and regulatory oversight. The endorsement marks a key step toward a unified European digital currency, with ECB President Christine Lagarde noting that final legislative decisions rest with EU lawmakers. The ECB plans to complete its investigation phase by late 2025, potentially leading to a pilot in 2026.
EU Council Approves ECB's Digital Euro with Privacy-Focused Offline Option
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Summary
The EU Council has backed the ECB’s digital euro plan, supporting both online and offline payment options. The offline version prioritizes privacy, keeping transaction data between direct users, while the online version enables real-time oversight. The move aligns with broader digital asset regulation efforts. ECB President Christine Lagarde said final decisions depend on EU lawmakers. The ECB aims to finish its research by late 2025, with a possible 2026 pilot. The design also includes features to aid in Countering the Financing of Terrorism.
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