European Parliament’s key committee approves legal framework for digital euro; ECB targets launch in 2029

According to Bloomberg, the European Parliament’s Committee on Economic and Monetary Affairs (ECON) approved the legal framework for the digital euro in Brussels on Tuesday, endorsing the simultaneous launch of both online and offline versions—clearing the way for final negotiations among legislative bodies, national governments, and the European Commission. The European Central Bank plans to officially launch the digital euro as early as 2029; the project is viewed as a key initiative by the EU to safeguard its monetary sovereignty.