The European Commission will propose a legal framework for a digital euro in the first quarter of 2023 and decide in autumn whether to conduct a digital euro pilot

The European Central Bank (ECB) released "Progress in the investigation phase of the digital euro". Regarding the design of the transfer mechanism used to verify transactions, the ECB stated that the Eurosystem will further explore solutions for the digital euro, where transactions will be carried out online. , and verified by a third party, the council also approved the continued exploration of peer-to-peer verification solutions for offline payments. Before the introduction of the digital euro, some steps need to be taken. In the first quarter of 2023, the European Commission will propose a legal framework for the establishment of a digital euro. / capital injection, etc., the Council will decide in the autumn of 2023 whether to start the implementation phase to develop and test technical solutions and business arrangements for a digital euro.