TechFlow news, September 5 — According to Cointelegraph, European Central Bank (ECB) Executive Board member Piero Cipollone reiterated the push for the digital euro project during a parliamentary economic committee session, but faced skepticism from EU lawmakers. Cipollone stated that the digital euro would serve as an alternative payment solution during crises, ensuring Europeans can access free and universally accepted digital payments under any circumstances.
However, some lawmakers expressed concerns over user privacy protection and potential risks to commercial banks posed by the digital euro. In response, Cipollone emphasized that the central bank would not have access to information about payment parties, and offline payment solutions would offer privacy protections equivalent to cash. According to plans, legislation related to the digital euro is expected to be finalized by the second quarter of 2026, and if all goes smoothly, the central bank digital currency (CBDC) could be launched as early as 2029.
