News > ECB inches closer to 'digital euro'

ECB inches closer to 'digital euro'

The Hindu | 14/07/2021 05:31 PM | Click to read full article

The European Central Bank is expected to take the next step towards a "digital euro" by launching the project's exploration phase, but questions remain about potential pitfalls and benefits for eurozone citizens.

The move comes as the coronavirus pandemic has hastened a shift away from cash, and as central bankers around the world nervously track the rise of private cryptocurrencies like bitcoin. A digital euro, would be an electronic version of euro notes and coins.