Piero Cipollone, a member of the European Central Bank's Executive Board, announced that the launch of the digital euro is unlikely before mid-2029. This timeline comes amidst ongoing discussions among EU member states regarding the project, which was first introduced in October 2020. Cipollone highlighted that the European Parliament has become a significant roadblock, as it must pass legislation to advance the digital euro initiative. He expects a general agreement among member states by the end of this year, with the Parliament likely to finalize its position by May 2026. During a recent event in Frankfurt, he noted that preparations for the central bank digital currency (CBDC) are continuing, with European authorities involved in ongoing discussions. A progress report from a Member of the European Parliament is expected on October 24, with additional time allotted for amendments and discussions after this report is presented.

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