Position: Digital euro

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In 2023, the European Commission came up with a proposed legal framework for a digital euro. Within this proposed framework, the groundwork is laid for a digital form of cash that would be issued by the European Central Bank.


Digital transformation has impacted the way we pay in recent years. Consumers are increasingly using digital payment solutions and abandoning cash more often. The European Central Bank (ECB) therefore believes that a digital euro can be an electronic form of cash for the digitised society. According to the ECB, a digital euro can play the role of monetary anchor, can safeguard monetary sovereignty and, in their view, would make the European payments market more efficient. As the Belgian banking sector, we understand the ECB's intention to keep sovereignty over monetary policy and payments in the hands of European institutions. However, it is important that the digital euro is designed in a well-considered way with attention to the current payments landscape, financial stability and its impact on future innovation in the payments market. The financial sector therefore advocates remaining critical and considering what added value a digital euro can offer before issuing it in the market and demanding high investments from all parties involved.