Digital Euro: EU Council Backs Online & Offline Use
Update: 2025-12-19
Description
The European Union Council has approved a plan for a digital euro, marking a significant shift from earlier proposals focusing solely on offline use. This digital currency, issued by the European Central Bank, could be used both online and offline, even without an internet connection. The Councils decision comes after the European Parliaments representative for the digital euro, Fernando Navarrete, pushed for an offline-only model to protect user privacy and ensure stability. The European Central Bank is working to introduce this digital currency to update its payment system and maintain financial independence. The Councils agreement now sets the stage for discussions with the European Parliament on the legal framework, potentially making the digital euro operational by 2029.
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