European Finance Ministers Take Stock of Digital Euro Progress
The Eurogroup, a body comprising the Finance Ministers of the eurozone countries, said in a statement on Monday the digital euro could not be programmable money. In other words, there would be no restrictions on the types of goods and services to be purchased or on the time for use of the digital euro.
In its discussions, the Eurogroup observed that the digital euro should complement and not replace cash, be assigned a legal tender status and ensure a high level of privacy. The group also added the CDBC should be widely accessible to the public, guarantee access to central bank money for euro area users, and its design should consider environmental implications.
