European Central Bank officials kept a clear target this week: launch the digital euro in 2029. That goal was described as realistic by senior ECB figures, even as the bank said it will carry on with preparation work beyond the formal end of its current phase in October 2025. According to Bloomberg and ECB statements, the timetable depends on new EU laws and technical readiness.

Preparation Phase Continues After October 2025

Based on reports, the ECB started the preparation phase in November 2023 and has been building rules and testing options since then. The formal stretch of that phase was due to finish in October 2025, but officials said work will not stop.

Tasks left on the list include finalizing the rulebook, deciding how privacy and anti-money-laundering checks will work, and lining up service providers and technical infrastructure. No final decision to issue will be taken until the legal framework is in place.

What The 2029 Target Means For Markets And Banks

Reports have disclosed that the bank aims for a mid-2029 launch if everything aligns — legislation, systems, and user tools. That leaves four years for lawmakers and market players to move.

Banks will be watching closely. So will fintech firms and payment platforms. Some regulators have said they want central bank money available electronically so citizens can keep using safe public money as cash use falls.

Political Pressure And International Context

According to media coverage, political signals from outside the EU have helped speed talks. US President Donald Trump’s moves on crypto and stablecoin regulation were cited by some EU ministers as a reason to solidify Europe’s own plan.

The ECB says the digital euro is partly about keeping public money relevant as private payment options multiply. Any decision to issue and distribute a retail CBDC will still need approval from EU lawmakers before the bank can start broad rollouts.

Open questions around design and limits remain. Will retail accounts hold interest? How much can a person keep in digital euros? Can citizens use the currency offline? These are basic questions that lawmakers and the ECB must answer together.

Reports say the ECB is aiming to protect privacy while meeting AML rules, but those goals sometimes conflict and will need trade-offs.

A narrow window, but not a guarantee. The 2029 timeline is a signal to markets and developers. It is a target, not a promise. Based on reports, the bank’s path will be shaped by how quickly EU legislation moves and how well technical trials go over the next months and years.

Featured image from Getty Images, chart from TradingView

Barcelona defeated arch-rivals Real Madrid four times in 2024/25, but Real Madrid drew blood first by triumphing over Barcelona at the Santiago Bernabeu on Sunday. Kylian Mbappé broke the deadlock for Los Blancos in the 22nd minute, and Fermín López equalized in the 38th. The final word of the half (and eventually the whole match […]

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The European Commission has accused TikTok and Meta of breaching the EU’s strict transparency laws under the Digital Services Act (DSA). The authority claims that the two popular social media platforms have made it difficult for researchers to access public data and for users to report illegal content or challenge moderation decisions. Both companies are hereby taken into legal custody.

TikTok and Meta face EU scrutiny for transparency breach

As per the commission’s preliminary review, TikTok and Meta have imposed complicated steps that hinder the researchers from studying how their respective platforms operate. The officials have also argued that such barriers prevent them from analyzing how the platforms are used, especially by minors, and that the users are exposed to harmful and illegal materials.

The DSA, for reference, mandates that the large tech companies must make their data easily accessible to qualified researchers. Both Meta and TikTok have failed to do so. The regulators believe that they may be undermining efforts to keep digital ecosystems accountable. If the commission’s allegations are proven right in the court of law, the companies could face fines worth billions.

Both companies may face an industry-wide ripple effect

Meta has responded to the allegations by claiming that it has already adjusted its systems in line with DSA. New reporting options and data access tools have been added. An official spokesperson stated that the company “disagrees with any suggestion” of a violation and continues discussions with EU officials. Further, TikTok is yet to publicly comment but is expected to submit a formal response soon.

If the commission upholds its findings, the companies could face a penalty of up to 6% of their annual revenue. Several other tech giants, including Apple, have earlier objected to the Digital Services Act. But regardless, they abided by the rule, and the final decision could reshape how these companies handle transparency worldwide.

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MiCA has given Europe a uniquely strong position to establish the regulatory gold standard for crypto, says Malta Financial Services Authority CEO Kenneth Farrugia, but regulators must work quickly and collaboratively to preserve the region’s advantage.