ECB's Cipollone says digital euro could help protect EU monetary sovereignty
An ECB official, Piero Cipollone, said the digital euro is key to protecting the EU's sovereignty. The bloc is on track to test real transactions in 2027 and could roll it out as early as 2029, pending legislation this year. For traders, this points to a major shift in European digital money that could affect euro-linked markets and crypto regulation.
Why it matters
- The EU is on track to test real digital euro transactions in 2027.
- A digital euro could launch as early as 2029, according to the ECB official.
- The rollout depends on legislation expected to be decided this year.
What to watch next
Watch for progress on the digital euro legislation this year, since it sets the timeline for the planned 2027 tests and 2029 rollout.
