ECB's Panetta explains focus on digital euro payments
ECB's Panetta explains focus on digital euro payments
European Central Bank board member Fabio Panetta announced that the digital euro project, an initiative to digitize European fiat currencies, is in the final stages of research, saying that one of the first goals is to endorse its establishment as a universal payment method.
Speaking at the opening of the European Parliament's Economic and Monetary Affairs Committee on April 24, Panetta said there is no single digital payment method across the EU. Panetta explained:
We looked around for technological solutions that would make it easy for people to make digital euro payments anywhere in the Eurozone.
He also explained that lawmakers could give the digital euro legal tender status, which would force all merchants who can accept digital payments to accept it.
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