European Central Bank Executive Board member Piero Cipollone said delays in digital euro legislation could postpone its planned 2029 launch. According to Odaily, he called on EU negotiators to reach an agreement on the legislation by the end of the year and said delays could deepen Europe's reliance on foreign payment providers.
If the EU passes the legislation this year, the ECB plans to prepare for a possible initial digital euro issuance in 2029. The ECB's Governing Council will decide whether to issue the digital currency and when, after the legislation is passed. The bank is preparing to begin a 12-month pilot in the second half of 2027.