According to information provided to CoinDesk, the European Union legislation required to support a digital euro that was scheduled to be released on June 28 has been delayed.The action comes in response to last week’s comments by finance ministers that seemed to cast doubt on the plan’s justification and the release of the draft bill, which addresses privacy and technical difficulties for the central bank digital currency (CBDC).The publication date of the draft legislation, which was supposed to occur before the European Central Bank made a final decision on whether or not to issue the money in a digital format, has changed more than once.It was initially scheduled for May.
According to a provisional forward agenda released this week, the measure was most recently slated for discussion and publishing at a meeting of the European Commission’s decision-making body on June 28.The commission did not identify a new publication date or offer an explanation for the delay.At their regularly scheduled meeting on Thursday, the euro area’s finance ministers also reviewed the plans.
After he presided over the discussions, Irish Finance Minister Paschal Donohoe said in a statement that ministers stressed the “importance of developing a compelling and clear narrative regarding what would be the added value of this development” in terms of a difference to the economy and citizens’ lives, adding that “within our institutions ministers want to support this work but also look at how we can further develop that narrative. “The legislative draft that CoinDesk saw last week seeks to forbid both shops charging for the use of digital euros as well as banks charging interest on them.