💨 Abstract

The European Central Bank (ECB) is accelerating its plans for a digital euro due to U.S. President Trump's support for dollar-pegged cryptocurrencies. The digital euro, an online wallet guaranteed by the ECB, is intended as an alternative to dominant U.S. payment providers. The European Commission proposed digital euro legislation in June 2023, but progress has been slow due to skepticism.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖