Breaking: ECB Approves “Investigation Phase” For CBDC Research and Development

Breaking: ECB Approves “Investigation Phase” For CBDC Research and Development

The European Central Bank (ECB) has announced a major step towards the launch of its sovereign digital currency goals by approving an investigation phase. The investigation phase would be 2 years long and focus on researching various aspects of a central bank-issued digital currency.

“We have decided to launch a project to prepare for possibly issuing a digital euro. We will look at how a digital euro could be designed and distributed to everyone in the euro area, as well as the impact it would have.” The bank said in a statement to the press.

(THREAD) We have decided to launch a project to prepare for possibly issuing a digital euro. We will look at how a digital euro could be designed and distributed to everyone in the euro area, as well as the impact it would have https://t.co/KCf73qHOZ8 1/3 pic.twitter.com/eHvpFlH8sq— European Central Bank (@ecb) July 14, 2021

Christine Lagarde, the president of the ECB who is also known for her passive stance on Bitcoin said the end of the investigation phase could possibly lead to the launch of Digital Euro.

“We have decided to move up a gear and start the investigation phase of the digital euro project. In the digital age, people and firms should continue to have access to the safest form of money – central bank money.” Lagarde said in a Tweet.

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