Piero Cipollone, a member of the European Central Bank’s Executive Board, warned lawmakers that delayed EU legislation could push back the digital euro, crypto.news reported on November 11. He spoke on November 10 in a statement to the European Parliament’s Committee on Economic and Monetary Affairs.
Cipollone urged lawmakers to finish negotiating the Single Currency Package before the end of 2026. “A delay in adoption could instead postpone the introduction of the digital euro,” he said, according to crypto.news. The ECB cannot issue a digital euro without legal authorization, though it can keep developing the technology.
A possible first issuance in 2029 depends on the regulation being approved this year, crypto.news reported. After the law is in place, the ECB Governing Council would decide whether and when to issue. Cipollone had said on October 6 at MNI Connect in Frankfurt that the ECB could be ready for a potential first issuance in 2029, according to Danish outlet Lovguiden.
The European Parliament approved its negotiating position on July 9 by 416 votes to 169, with 22 abstentions. crypto.news reported that the institutions had not reached a final agreement and that negotiators met again on November 5.
The ECB plans a 12-month pilot starting in the second half of 2027 with 36 payment providers. According to crypto.news, the pilot is unaffected by the legislative timing.
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Sources:
crypto.news: ECB warns digital euro may not launch in 2029 as EU talks continue
Lovguiden: Cipollone, digital euro could be introduced in 2029 if law passes this year
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