{"id":69680,"date":"2022-11-07T17:58:00","date_gmt":"2022-11-07T15:58:00","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=69680"},"modified":"2025-09-07T21:33:06","modified_gmt":"2025-09-07T18:33:06","slug":"ecb-chief-promises-swift-digital-euro-legislation","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/ecb-chief-promises-swift-digital-euro-legislation\/","title":{"rendered":"ECB chief promises swift digital euro legislation"},"content":{"rendered":"<p>The European Commission will soon present a legislative proposal for the digital euro. Christine Lagarde, head of the <span data-descr=\"European Central Bank\" class=\"old_tooltip\">ECB<\/span>, told <a href=\"https:\/\/www.theblock.co\/post\/183632\/eu-commission-propose-legislation-digital-euro\">The Block<\/a>.<\/p>\n<p>In July 2021<a href=\"https:\/\/forklog.com\/en\/news\/ecb-clears-the-way-for-the-research-phase-of-the-digital-euro\"> the CBDC research phase began<\/a>, which was set to run until September 2023. It was anticipated that by this time the regulator would determine the advisability of issuing the digital euro.<\/p>\n<p>ECB Executive Board member Fabio Panetta <a href=\"https:\/\/www.theblock.co\/post\/183646\/digital-euro-transaction-limits-store-value-caps\">reminded<\/a> about possible limits on CBDC transactions and the amount of deposits for individuals. Earlier, the official<a href=\"https:\/\/forklog.com\/en\/news\/ecb-to-cap-digital-euro-issuance-at-e1-5-trillion\"> said<\/a> about \u20ac1000 (monthly) and \u20ac3000 respectively. The exact parameters will still need to be agreed, he noted.<\/p>\n<p>Panetta explained that the limits were necessary to reduce risks to financial stability, and that the CBDC is not a replacement for cash. In a crisis, euro-area citizens could convert bank deposits into the national digital currency, he added.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;CBDC would be an additional option for retail payments, not a challenge to the functioning of the financial system,&#8221;<\/em> Panetta said.<\/p>\n<\/blockquote>\n<p>As noted previously, the initiative to issue a digital euro emerged in <a href=\"https:\/\/forklog.news\/v-es-prizvali-evropejskij-tsentrobank-vypustit-sobstvennuyu-tsifrovuyu-valyutu\/\">in November 2019<\/a>. In October 2020 the ECB published <a href=\"https:\/\/forklog.news\/etsb-aktiviziruet-rabotu-nad-tsifrovym-evro\/\">a comprehensive report<\/a> on this topic.<\/p>\n<p>In May 2022, Panetta signalled that the CBDC could be issued by 2026, with an issuance cap of \u20ac1.5 trillion.<\/p>\n<p>Read ForkLog\u2019s bitcoin news on our <a href=\"\/\/telegram.me\/forklog\u201d\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The European Commission will soon present a legislative proposal for the digital euro, ECB president Christine Lagarde said, The Block reports.<\/p>\n","protected":false},"author":1,"featured_media":69681,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1753,1410,36],"class_list":["post-69680","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-digital-euro","tag-ecb","tag-regulation"],"aioseo_notices":[],"amp_enabled":true,"views":"23","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/69680","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=69680"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/69680\/revisions"}],"predecessor-version":[{"id":69682,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/69680\/revisions\/69682"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/69681"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=69680"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=69680"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=69680"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}