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Economy
16 May 2023

In-Depth Analysis - Digital euros legal framework-The legal framework concerning legal tender, privacy and inclusion - PE 747.840 - Committee on Economic and Monetary Affairs

This report considers that the digital euro can be introduced under the ECB's primary mandate as legal tender and be remunerated. However, in order to lawfully create the proposed digital euro app, the ECB would require a mandate from the EU legislator under its secondary mandate which has to comply with article 119 TFEU, fundamental rights and data protection regulation. The supervision should be through the European Data Protection Supervisor. Finally, the digital euro should not exclude those lacking digital skills and minimum standards should be introduced regarding the availability of cash.Source : © European Union, 2023 - EP