ECB Urges EU Lawmakers to Settle Digital Euro Rules by Year End to Protect a 2029 Launch

ECB Executive Board member Piero Cipollone told the European Parliament’s economic affairs committee on Tuesday that negotiators should strike a deal on the digital euro regulation before the year closes. The rules belong to the EU’s Single Currency Package, and he says passing them would hand the central bank the legal certainty it needs to finish its groundwork. If the law arrives this year, the ECB aims to be ready for a first issuance in 2029. Only after that will its Governing Council decide whether and when to actually issue the currency.

Why Cipollone Warns Against Delay

Slower progress, he cautioned, could push back the launch itself. A later start might leave Europe leaning even harder on foreign payment providers and make life tougher for European businesses competing in payments.

Where the Digital Euro Process Stands

The Parliament’s economic affairs committee backed its position in June by 43 votes to 14, and the full chamber adopted its negotiating stance in July, which opened talks with member states. Meanwhile, the ECB is preparing a 12 month pilot starting in the second half of 2027, where payment providers and selected merchants will try out a beta version of the digital euro.