European Parliament Approves Digital Euro Package With 43-14 Vote, 2029 Launch Target

The European Parliament's Committee on Economic and Monetary Affairs approved the digital euro package today (June 24), with 43 votes in favor and 14 against. The approval advances negotiations between the European Parliament and the EU Council, bringing the eurozone closer to its first central bank digital currency, with a planned 2029 launch targeting roughly 350 million residents.

Under the approved draft, the digital euro would operate both online and offline, with privacy protections using zero-knowledge proof technology ensuring transactions are verified without exposing personal data. The ECB would not have access to users' personal identification information. Offline payments would rely on local device storage similar to cash, though lost funds could not be recovered. Holding limits would be introduced to protect financial stability, and basic services would remain free for users. Before launch, the ECB must complete technical standards, pilot testing, and partnerships with payment providers.