ECB seeks online merchants for 2027 digital euro pilot
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The European Parliament's Economic Committee has given the green light to negotiations on a digital euro, with plans to simultaneously advance both online and offline versions.
According to Bloomberg, the European Parliament's Committee on Economic and Monetary Affairs (ECON) has adopted a position paper on the legal framework for a digital euro, paving the way for negotiations with member state governments and the European Commission on final rules. The plan will simultaneously advance both online and offline versions of the digital euro, with the European Central Bank aiming for a rollout by 2029 and pilot programs within the next 12 months to validate the infrastructure in real-world scenarios. Regulators hope that a digital euro issued by the European Central Bank will reduce reliance on Visa, Mastercard, and dollar-denominated stablecoins, while providing a "secure, homegrown European option" for retail payments without eliminating physical cash.
Crypto payments barely register among euro area merchants, ECB finds
Crypto acceptance was just 0.2% online and remained below 1% at physical points of sale, while mobile payments gained ground.
ECB Executive Board member Cipollone: The impact of the digital euro on banks will be "negligible".
PANews reported on June 24 that ECB Executive Board member Cipolo Nee stated that the impact of the digital euro on banks is "negligible" and that the digital euro will not pose a risk to financial stability.
ECB defends digital euro privacy as CBDCs face global scrutiny
Piero Cipollone said the Eurosystem would not identify digital euro users as central bank digital currencies face privacy concerns worldwide.
Digital Euro Will Offer 'Maximum Level of Privacy,' ECB Board Member Says
Piero Cipollone said the Eurosystem would not be able to link individuals to transactions, though the banks handling them still could.
Bybit: Will gradually restrict access to some Bybit Global services for users in the European Economic Area.
According to Foresight News , Bybit has issued a notice to its European Economic Area (EEA) users, stating that due to ongoing regulatory compliance arrangements, EEA residents' access to certain Bybit Global services will be gradually restricted. Affected users will receive clear notification prior to the implementation of these measures, outlining the processing timeline for existing and new positions. To facilitate the management of these positions and balances, users will still be able to access their custodied assets in their accounts during this period. The notice applies to the following European Economic Area countries: Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, and Sweden. Maltese residents are not included in this notice, as Bybit EU has not currently extended its license to Malta and does not actively offer products or services to Maltese residents. Bybit also clarified that Bybit EU is a regulated European platform under the group, operating through an entity holding a MiCA license, and is currently applying for an additional license in Austria to cover a wider range of products.