European Central Bank Executive Board member Piero Cipollone has urged EU lawmakers to finalize digital euro legislation by the end of 2026. This deadline is critical to maintaining the current timeline for a potential launch in 2029.
Cipollone stated that passing the regulation, which is part of the EU Single Currency Package, is necessary to provide the ECB with the legal framework required for final preparations. He warned that any legislative delays could postpone the introduction of the digital currency.
The ECB plans to launch a 12-month pilot program in the second half of 2027 to test a beta version of the digital euro with payment providers and selected merchants. The Governing Council will decide on the official issuance only after the legislation is passed.
The European Parliament previously approved its position on the legislation in June with a 43–14 vote and adopted its negotiating stance in July. These steps have enabled formal discussions between the Parliament and EU member states.
