The European Union (EU) is more comfortable with puzzles when it comes to the issue of the introduction of the digital currency of the central bank (CBDC), at least the decision will be known in early 2021.
European Central Bank President Christine Lagarde said the results of the central bank talks last October would be shared in January 2021.
Lagarde also expects the decision to bring good news, agreeing with the development of the digital euro.
However, they do not plan to be the first in the CBDC race.
There are many things to consider in reaching an agreement on the issue. Most importantly, the European Central Bank (ECB) will refine anti-money laundering and terrorism financing as well as focus on consumer safety.
Undeniably, the establishment of the CBDC took a long time to see to what extent the technology was capable of being a global choice based on its characteristics.
Just look at Facebook announcing the establishment of Libra digital money in 2019. Until now the firm has not launched it and is still doing various reforms for the sake of more secure use.
So is the digital yuan in China which took five years of establishment before its launch this year.
So far, the only country that has successfully issued the world's first digital bank currency is the Bahamas, the "Sand Dollar".
