The digital euro has received approval from a key committee of the European Parliament: what comes next
The European Parliament's Committee on Economic and Monetary Affairs (ECON) has officially supported the bill on the introduction of the digital euro. The vote showed a clear majority: 43 members voted in favor, 14 against, and one abstained. This is a key step towards the launch of the first central bank digital currency (CBDC) in the eurozone.
The digital euro is an electronic form of fiat money issued by the European Central Bank (ECB). It will operate in two modes: online (via a traditional bank account) and offline (via a local storage on a device, such as a smartphone). The latter mode is equivalent to cash: if the device is lost, the funds cannot be recovered. Zero-knowledge proofs are planned to be used to verify transactions, allowing operations to be confirmed without disclosing the user's personal data.
Key Parameters and Limitations
Banks, payment providers, post offices, electronic money issuers, and regulated crypto-asset providers will be able to distribute the digital euro. Most companies will be required to accept the new currency, except for small and micro-enterprises that do not support other digital payments. Basic services for users (account opening, storage and management of funds, access to at least one payment instrument) will remain free of charge.
To minimize risks to the banking system, a holding limit will be set for citizens. The specific amount has not yet been determined: the ceiling will be set by the European Commission based on ECB recommendations and reviewed at least once every two years.
Timeline and Infrastructure
Before the launch, the ECB must build the necessary infrastructure, conduct real-world pilot tests, and clarify liability rules, especially regarding offline risks, including double spending. After authorization, a deployment period of at least 24 months is envisaged. According to ECB estimates, if legislation is adopted in 2026, the first transactions could begin in mid-2027, and a potential first issuance of the digital euro could occur in 2029.
The digital euro is intended to reduce the EU's dependence on external payment infrastructures. In October 2025, the ECB noted that nearly two-thirds of card transactions in the eurozone are processed by non-European companies. In parallel, European banks are developing a private alternative—the regulated euro stablecoin project Qivalis, whose number of participants has grown to 37 banks. The asset's launch is planned for the second half of 2026.
My analysis: The approval of the ECON committee is not just a formality, but a clear signal to the market: Europe is serious about creating its own digital currency capable of competing with private stablecoins and external payment systems. However, the key challenge is the balance between privacy and control, as well as the impact on the traditional banking system. If the holding limits are too low, this could reduce the attractiveness of the digital euro for the mass user. We are following developments.