The post ECB Sets 2029 Target for Digital Euro Launch as Legislative Process Advances appeared on BitcoinEthereumNews.com.

TLDR: ECB targets mid-2029 for digital euro issuance pending legislative approval with pilot launch in 2027.  Nearly 70% of European card transactions rely on non-European processors raising sovereignty concerns.  Digital euro will use encrypted codes ensuring ECB cannot identify individual payers or transaction recipients.  Waterfall mechanism and holding limits designed to prevent bank deposit outflows and maintain stability.   The European Central Bank continues development of the digital euro despite other central banks pausing similar projects. Piero Cipollone, ECB Executive Board member, explained the currency’s purpose and timeline in a recent interview. The digital euro aims to provide a pan-European payment solution while reducing reliance on non-European payment processors. Cipollone emphasized that legislation must be completed before any issuance occurs. Timeline and Legislative Progress Move Forward The digital euro project has reached critical legislative stages. Cipollone clarified the current status: “We have not yet issued a digital euro and we will not do so until we have the legislation in place.” The European Commission issued its original proposal in June 2023. The Council of the European Union reached agreement in December 2025. The European Parliament is expected to vote on its position in May 2026. Negotiations between institutions should conclude by year-end. The ECB targets mid-2029 for potential issuance if legislation passes. “We are already working to be prepared to be able to issue the digital euro, if the legislation is in place, by mid-2029,” Cipollone stated. A pilot program will begin in 2027 to test payment functionality. The infrastructure development timeline matches the legislative process duration. The ECB is preparing internal systems simultaneously. This parallel approach ensures readiness when legal frameworks are established. The legislative process involves multiple stakeholders. The European Parliament is currently reviewing amendments. The Council and Commission have aligned their positions. All parties must reach consensus…

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Filed under: News - @ February 8, 2026 11:57 pm