EPIF is delighted to share with you its position paper on the proposal establishing the digital euro.

EPIF has been an active stakeholder in the various workstreams of the Euro Retail Payments Board (ERPB), including the Rulebook Development Group. We very much welcome the ECB’s work to involve the industry in this important exercise of exploring a Digital Euro for Europe. We look forward to continuing to collaborate with both legislators and the ECB in order to ensure that the digital euro brings as much value as possible to citizens, businesses and public authorities.

EPIF welcomes many provisions in the proposal that bring further clarity to market participants, notably in terms of the legal certainty on the issuance and issuance liability, the possibility for citizens to hold multiple wallets and the alignment with the future rules of the Payment Services Regulation (PSR) for digital euro payment transactions. However, some concerns remain with the draft Regulation, including on the compensation rules, mandatory acceptance and respective exemptions and the front-end services to be developed by the ECB.

Our detailed views on the digital euro proposal can be found in the paper below.