European Union nears launch of digital euro
The digital euro project in the European Union is approaching the final legislative stage after the Parliament approved starting negotiations with governments, with the aim of launching it by 2029. The digital euro seeks to enhance the independence of the European payment system and reduce reliance on American payment companies and major technology firms. The currency will be managed by the European Central Bank, with a high level of privacy protection, while negotiators face disagreements over fees and compensations owed to operators.
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