EU Council Backs Online and Offline Digital Euro
The Council of the European Union has formally backed the introduction of the European Central Bank’s digital euro, supporting plans for an online version alongside a privacy-oriented offline option. Lawmakers framed the move as a step to modernize payments while safeguarding user privacy and financial inclusion, putting political weight behind the ECB’s ongoing work.
Why it matters: the endorsement accelerates the program from research toward concrete testing and legal design, signaling likely pilots and regulatory coordination in member states. An offline variant could provide resilience for peer-to-peer payments without constant internet access and address privacy concerns that have dogged many CBDC proposals. Market participants, banks and fintechs should expect clearer timelines and consultation as technical, operational and compliance details are worked out.