The European Central Bank (ECB) has renewed its push for a digital euro, framing it as a reliable, crisis-proof payment option. ECB Executive Board Member Piero Cipollone told the European Parliament’s economic committee that the digital euro would guarantee access to free, universally accepted payments, even during major disruptions. https://x.com/ecb/status/1963550103630680089 He argued it would complement physical cash, strengthen resilience, and reduce reliance on non-European payment providers. However, many lawmakers remain skeptical. Concerns focus on privacy protections, risks to the traditional banking system, and whether citizens would shift deposits away from commercial banks to the perceived safety of ECB accounts. Some questioned the central bank’s plan to impose caps on digital euro holdings, fearing those limits could change during crises. https://www.youtube.com/watch?v=COfHwr-Ksng Cipollone defended the approach, stressing rigorous analysis and highlighting that other financial risks would outweigh digital euro concerns in extreme scenarios. On privacy, Cipollone insisted transactions would be anonymous to the ECB and that offline payments would match the confidentiality of cash. Despite political delays, legislation could be finalized by 2026, with a potential rollout by 2029 if approved by EU institutions.

Key Takeaways:

The ECB is promoting the digital euro as a resilient payment solution for crisis situations, emphasizing privacy protections and offline use.
EU lawmakers remain skeptical, citing risks to commercial banks, user privacy, and the implications of deposit caps.
Final legislation could be approved by mid-2026, with potential digital euro deployment by 2029 if no further delays occur.

The European Central Bank (ECB) has renewed its push for a digital euro, framing it as a reliable, crisis-proof payment option.

ECB Executive Board Member Piero Cipollone told the European Parliament’s economic committee that the digital euro would guarantee access to free, universally accepted payments, even during major disruptions.

Like cash, the digital euro will allow everyone to pay throughout the euro area at all times and safeguard inclusion for all Europeans.

Read Executive Board member Piero Cipollone’s full speech at the @Europarl_EN https://t.co/GR7wj5krsl pic.twitter.com/mkWXzroexU
— European Central Bank (@ecb) September 4, 2025

He argued it would complement physical cash, strengthen resilience, and reduce reliance on non-European payment providers.

However, many lawmakers remain skeptical. Concerns focus on privacy protections, risks to the traditional banking system, and whether citizens would shift deposits away from commercial banks to the perceived safety of ECB accounts.

Some questioned the central bank’s plan to impose caps on digital euro holdings, fearing those limits could change during crises.

Cipollone defended the approach, stressing rigorous analysis and highlighting that other financial risks would outweigh digital euro concerns in extreme scenarios.

On privacy, Cipollone insisted transactions would be anonymous to the ECB and that offline payments would match the confidentiality of cash.

Despite political delays, legislation could be finalized by 2026, with a potential rollout by 2029 if approved by EU institutions.

About The Author

Written by

Adam Morris

Co-Founder / Managing Editor

Adam Morris, the co-founder of Crypto Head and a respected crypto expert, offers insightful commentary and analysis on cryptocurrency, NFTs, and the evolving digital landscape.

His extensive experience and features in top-tier publications like Forbes and CNN underscore his deep understanding of the crypto world and its future potential.

Check Adam out on: