Digital Euro Currency, Economic and Legal Implications
Digital Euro Currency, Economic and Legal Implications

Author(s): Daniela Duță, Isabelle Oprea
Subject(s): Law on Economics, Financial Markets, ICT Information and Communications Technologies, Socio-Economic Research, EU-Legislation
Published by: ADJURIS – International Academic Publisher
Keywords: euro digital; coin; European Central Bank; electronic currency; customer;
Summary/Abstract: The digitization of the economy, artificial intelligence and technological innovations are influencing consumers' perception of payment services. As cryptocurrencies and stablecoins became more popular, the central banks of the world realized that they had to offer an alternative, namely, digital currency. To ensure that the population continues to have unlimited access to central bank money in a way that meets their needs in the digital age, the Council of the European Central Bank has decided to advance work on the possible issuance of a digital euro – an electronic form of central bank money, accessible to all citizens and commercial companies. From a legal perspective, the introduction of a digital euro would require careful analysis of cybersecurity, data protection, and consumer protection issues. Legal changes would also be necessary to ensure that the digital euro is recognized as legal mean of payment and subject to the same legal framework as traditional currency, as well as to ensure consumer protection and interoperability with other digital payment systems. The digitalization of the economy and new technologies are likely to influence the users’ behavior regarding the digital euro currency?

• Details
• Contents