Regulation on the establishment of the digital euro

Bitkom welcomes the European Commission's legislative proposal to establish the digital euro, recognizing its potential to address the profound impact of digitalization and new technologies on European citizens' lives and the economy. Considering the increasing prevalence of private digital payments, the emergence of foreign Central Bank Digital Currencies (CBDCs), private stablecoins, and the gradual decline of traditional banknotes and coins, the introduction of a European retail CBDC becomes vital. Such a digital euro could effectively tackle these challenges by providing an official and digitally accessible form of central bank money while complementing cash.