European Union: Issued second ECB progress report on digital euro preparation phase

On 2 December 2024, the European Central Bank (ECB) released its second progress report on the preparatory phase for the digital euro, initiated on 1 November 2023, to establish the groundwork for a potential digital currency issuance. The report includes updates to the euro scheme rule book following an interim review by the Rulebook Development Group - who represent customers, retailers, and service providers - and holding a workshop on 30 September 2024 to explore holding limits for the Digital Euro. In November 2024, there was a call for expressions of interest in innovation partnerships to support the development of a methodology for setting holding limits. A call for applications will be launched on 3 January 2024 to select potential providers for Digital Euro Components and related services.