A digital euro and the scope and effects of the legal tender status of banknotes and coins

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Practical information

The Commission announced legislative proposals to be presented in the second quarter of 2023 to lay down the principles of a digital euro before its potential issuance by the European Central Bank. At the same time, the Commission also plans to issue a proposal to regulate the meaning of euro cash (banknotes and coins) as legal tender in EU legislation, which would protect the role of euro cash by clarifying its status as legal tender and ensure consistency with the related initiative on the digital euro. In view of these upcoming proposals, the EESC is asked to give its assessment on these topics.