ECB launches public consultation on digital euro

ECB President Christine Lagarde announced a public consultation on the digital euro for EU residents.

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We’ve started exploring the possibility of launching a digital euro. As Europeans are increasingly turning to digital in the ways they spend, save and invest, we should be prepared to issue a digital euro, if needed. I’m also keen to hear your views on it https://t.co/0ZuU2ZZgCp pic.twitter.com/CoY5sN7Yoz

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— Christine Lagarde (@Lagarde) November 1, 2020

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The survey is being conducted as part of a study into the feasibility of issuing a central bank digital currency (CBDC).

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We have begun public consultations so that Europeans can express their preferences and tell us whether they would be happy to use the digital euro, knowing that this is money issued by the ECB that people can rely on,” Lagarde said.

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To take the survey, registration with the country of residence is required. In addition to EU member states, the drop-down list includes an ‘Other’ option.

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In late September, ECB lawyers filed an application to register the \”digital euro\” trademark.

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In early October, the working group published a report on the possible issuance of a new payment instrument, and several central banks have defined the main requirements for CBDCs.

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Commenting on the initiative, Christine Lagarde stated that a CBDC would complement cash and the issuance of banknotes would continue.

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For more on how and why central banks create digital currencies, read ForkLog’s special report.

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How and why central banks create digital currencies (CBDCs)

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