Fabio Panetta, member of the Executive Board of the European Central Bank (ECB), has confirmed that a proposal will be made to establish the regulatory framework for the digital euro, also known as CBDC (Central Bank Digital Currency). The European Commission is expected to present the legislative proposal in June, and a decision on next steps will be made in October.
In an interview, Panetta highlighted that the ECB maintains regular contact with the European Commission to work on the design, distribution and impact of the digital euro in the financial sector. The CBDC will become the official currency in the 27 countries of the European Union.
The Governing Council of the ECB will be responsible for evaluating the proposal and deciding whether to start a preparation phase to develop and test the digital euro. This testing phase could last two or three years.
If everything goes as planned and the necessary approval is obtained, it is estimated that the digital euro could be available within three or four years, according to Panetta's estimates. #cbdc #bitcoin #satoshifactory
