Piero Cipollone, a member of the European Central Bank Executive Board, urged European Union negotiators to reach a deal on digital euro legislation by the end of the year. A delay in adopting the regulation could postpone the first issuance planned for 2029 and increase Europe’s dependence on foreign payment providers. The European Parliament’s economic affairs committee adopted its position by 43 votes to 14 in June, before Parliament approved its negotiating position in July. The ECB is preparing a 12-month pilot set to begin in the second half of 2027, involving payment providers and selected merchants.
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