Digital euro package

In view of the publication of the proposed new „New 2023 Single Currency Package“ which – according to the Commission – consists of two separate pieces of legislation to facilitate the introduction of a Digital EURO in the EU and ensure access to the digital currency EU-wide (please see EventID #21755 and EventID #21754 in this context), the European Commission (EC) has published an accompanying statement. In it, the Commission lists all the documents that have been issued in this context (proposed new regulations, related regulations, Q&As, etc.) and briefly describes the key content of the new package.
As in the Q&As, it shall be noted that the EC has also issued a draft proposal to define the legal tender status of EURO banknotes and coins which is necessary in connection with the introduction of a Digital EURO (please see EventID 21763 in this context).
One new document listed in the statement is the factsheet which
– summarizes the key objectives of the proposed new package;
– outlines the key benefits of the introduction of a Digital EURO for „people“;
– addresses privacy issues in relation to a Digital EURO; and
– describes the next steps in the regulatory process to pass the new package.
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To recall, the new package will / would
– establish the regulatory framework for the introduction of a Digital EURO, thereby covering relevant issues in this context ranging from the process of creation of such EURO, to the distribution of such within and outside the EU, to the legal tender status of the currency, to obligations of payment service providers in relation to the introduction of the currency, to name a few; and
– establish rules for the engagement of EU payment services providers (PSPs) in the Digitial EURO, whose currencies are not the EURO and the competent authority of which also do not have the EURO and for the supervision of PSPs by respective competent authorities.