EU digital euro law halted for now

The development of a digital euro is in full swing. Now there are delays: The European Commission has shelved the draft law for now.

The European Commission's planned legislation in support of a digital euro is temporary suspension. The reasons are so far unclear.

Originally, the draft was scheduled for June 28. Whether the recently leaked document, which provides more detailed information about the design of the CBDC, has anything to do with the delays remains to be seen.

This means that the bill, which should clarify the final issuance of the CBDC by the European Central Bank, has been postponed again.

The ECB's digital euro is to be used as a universal means of payment throughout the euro area and provide an alternative to cash.

CBDCs are controversial in the crypto community. Some praise them as a low-cost alternative to international payments, but others fear for their privacy.

In late March, a Bitcoin collective spray-painted the BTC logo on the glass facade of the ECB headquarters in Frankfurt am Main. The motivation: to show the central bank an alternative.