Ekonomické zprávy
09.11.2021

Digital euro ‘likely’ to become legal tender - ECB’s Panetta

Bloomberg reports that ECB's Executive Board member Fabio Panetta said that a digital euro will probably become legal tender in the euro area if the ECB proceeds with launching the new form of money.

He cautioned, however, that achieving legal tender status “should not be taken for granted.”

Such status could potentially give the central-bank-issued digital currency an edge over other forms of electronic payments in Europe, which aren’t currently recognized as legal tender and therefore aren’t consistently available to consumers as a payment method. 

If the ECB manages to make its digital euro cost-effective and guarantee its usability, that could allow for a more widespread adoption than critics of the project assume. 

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