ECB Pushes Ahead With Work On Digital Euro Currency

Law360, London (October 2, 2020, 4:59 PM BST) -- The European Union's banking regulator said on Friday that it will press ahead with the development of a digital euro as it awaits formal approval by the central bank's board to introduce the currency.    

The European Central Bank said in an updated report on the project that a digital euro would be an electronic form of money issued by the central bank that complements cash but does not replace it. It also warned, however, that the digital euro would be "an attractive instrument for terrorist financing."

"Europeans are increasingly turning to digital in the ways they spend, save and invest,"...

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