The European Union has begun negotiations on legislation to create the legal framework for a digital euro, aiming to finalize the rules by the end of 2026. If approved, the ECB could launch a pilot with around 40 banks and payment firms in 2027, followed by a full rollout in 2029. The digital euro would be an electronic form of cash issued directly by the ECB, offering the public a central bank-backed digital payment option.
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