The European Parliament and the ECB are making progress in developing legislation for the digital euro, with a possible launch in 2029.

The digital euro project is progressing, with discussions among the member states of the euro area. The ECB estimates that, after the legislation is finalized by May, it will take 2-3 years for implementation. Finance ministers have agreed on customer holding limits, and political support for the digital euro is broad. Commissioner Dombrovskis emphasizes the importance of an independent European payment system in the context of the digitalization of businesses. However, there are concerns about the impact on the banking sector and financial stability.