The European Central Bank plans to launch its digital euro in 2029, pending legal framework approval. Preparation will continue after current phase ends this month. The project has faced skepticism from banks, lawmakers, and end-users due to privacy concerns. Only three countries have officially launched CBDCs, while 49 are in pilot phase.

CBDCs aim to improve payment efficiency and financial inclusion but raise concerns about privacy and government corruption. ECB Board member predicts a consensus on digital euro by 2026. Only Nigeria, Bahamas, and Jamaica have active CBDCs, with 49 countries in pilot phase. European Parliament still debating CBDC launch.

Read more at Cointelegraph: Digital euro launch Eyed for 2029 as ECB Advances CBDC plans