The European Central Bank announced the launch of the digital euro project

On the 14th, the European Central Bank announced the launch of the digital euro project and launched relevant investigation and research.

According to the news announcement issued by the European Central Bank on the same day, the two-year investigation is the initial stage of the digital euro project, which aims to solve key problems such as the design and issuance of digital euro. At this stage, the euro system composed of the European Central Bank and the central banks of member countries will design and develop digital euro, evaluate the priority application scenarios and potential market impact, study the relevant legal framework with the European Parliament and other institutions, protect the privacy of users and avoid risks to the residents, institutions and the overall economy of the euro area.

The ECB stressed that the digital euro must be able to meet the needs of the European people and help prevent illegal activities and adverse effects on financial stability and monetary policy“ In any case, the digital euro will be a supplement to cash, not a substitute. "

European Central Bank President Christine Lagarde said that since the release of the comprehensive report on digital currency in October last year, the European Central Bank has further analyzed the digital euro and solicited opinions from the public and professionals. The results are encouraging. based on this, the European Central Bank decided to officially launch the digital euro project, with the goal of allowing European residents and enterprises to continue to have the safest currency in the digital era, that is, the central bank currency.

In the past nine months, the euro system has organized a number of experiments on digital euro, involving privacy, anti money laundering and circulation restrictions. The ECB said no major technical barriers were identified during the experiment.

(original title: the European Central Bank announced the launch of the digital euro project)