Digital euro legislation was proposed back in June 2023, but there has been no significant progress since then. One of the reasons for the long consideration of the issue is the skepticism of bankers and lawmakers.
Cipollone noted that Trump's support for stable coins pegged to the dollar, which will be available globally, will add another payment instrument from the United States and speed up the process of introducing a digital currency.
Cipollone hopes that the European Parliament and the EU Council will finalize legislation on digital currency by the summer. After that, lawmakers will be able to begin negotiations with the European Commission with the possibility of approval by November 2025, when a vote on the digital currency is scheduled.