The European Central Bank (ECB) has announced that it will begin the “preparation phase” for the digital euro project after a two-year investigation. This move comes after the ECB released a report on the potential design and distribution of a digital euro. The preparation phase will last for two years and will focus on finalizing rules for the digital currency and selecting possible issuers. The next phase will involve testing and experimentation based on user feedback and central bank requirements. The ECB clarified that the launch of the preparation phase does not mean a decision has been made to issue a digital euro, as that will be considered once the European Union’s legislative process is completed. The goal of the ECB is to have a digital euro available alongside cash. The rollout of a digital euro is expected to attract the attention of regulators and policymakers, especially with the upcoming European Parliament elections in June 2024.

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Information	Details
Geography	Europe
Countries
Sentiment	neutral
Relevance Score	1
People	Christine Lagarde, Volodymyr Zelensky, Fabio Panetta
Companies	Blockchain Game Alliance (BGA), European Central Bank (ECB), European Commission, FRUITS Eco-Blockchain Project, European Parliament
Currencies	None
Securities	None