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European Parliament Backs Dual-Tier Digital Euro, Rejecting Limited Proposal

Bloomberg Markets •
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The European Parliament decisively approved legislation enabling both online and offline use of a digital euro, a significant departure from a proposal championed by its leading lawmaker that would have restricted the currency to digital-only transactions. This vote marks a crucial step towards a broader digital cash alternative within the eurozone, addressing concerns about financial exclusion and privacy. The decision reflects a political compromise, balancing innovation with the need for tangible, physical-like currency options. European Parliament support now paves the way for the European Central Bank to develop the technical framework for a digital euro usable in everyday purchases both online and in physical stores.