EU Parliament Clears Digital Euro With 416 Votes on July 9, Enters Final Negotiations

According to the European Parliament official statement, on Thursday (July 9), the EU Parliament approved the digital euro central bank digital currency (CBDC) with 416 votes in favor, 169 against, and 22 abstentions, allowing it to enter final negotiations with member states on implementation details.

The digital euro will offer free basic accounts and payment instruments, with initial holding limits to protect the financial system. The European Central Bank aims to use the CBDC to counter the influence of private stablecoins and reduce Europe's dependence on external payment providers, according to ECB Executive Board Member Piero Cipollone.