<\/path><\/svg><\/span><\/a>.<\/li>\n<\/ul>\n\n\n\nIn June 2023, the EC published a legislative proposal that must first be approved by the Council of the EU<\/strong> and the European Parliament<\/strong>. Only then can the ECB decide to actually introduce the digital euro. The intended infrastructure could be operational around 2029<\/strong>, depending on the progress of the legislative process.<\/p>\n\n\n\nIn the current draft, banks and payment service providers<\/strong> play a key role in offering digital euro wallets to consumers. Alternative payment instruments are being developed for people without bank accounts.<\/p>\n\n\n\nThe ECB has confirmed that the digital euro will not<\/strong> be based on blockchain technology, but on a centrally managed system.<\/p>\n\n\n\nThe role of the Dutch Payments Association<\/h3>\n\n\n\n
The Dutch Payments Association represents its members in the debate on the digital euro and advocates for proportionate social costs.<\/p>\n\n\n\n
Our involvement focuses on four themes:<\/strong><\/p>\n\n\n\n\n- Strategic autonomy<\/strong>
The digital euro can contribute to the resilience of European payments. We offer knowledge and information to ensure a good balance between public and private solutions.<\/li>\n\n\n\n- Privacy and supervision<\/strong>
The association participates in the debate on the digital euro and advocates design choices that serve the interests of consumers and merchants and ensure the proper functioning of the market.<\/li>\n\n\n\n- Technology and stability<\/strong>
We monitor the ECB’s proposals for the rulebook and technical design decisions, respond to them on behalf of our sector, and share insights from studies such as the PwC study on the costs of the digital euro with our members and stakeholders.<\/li>\n\n\n\n- European cooperation<\/strong>
We are a discussion partner on behalf of our sector in the European dialogue on strategic autonomy, market regulation, and proportionality.<\/li>\n<\/ul>\n\n\n\nVision for the future<\/h3>\n\n\n\n
The Dutch Payments Association looks forward to a digital euro that strengthens the existing ecosystem rather than replacing it.<\/p>\n\n\n\n
\n- Workable and proportional design<\/strong>
The digital euro must be secure and feasible. The association advocates a reorientation of the ECB towards a wholesale variant (for large-value payments to and from other currencies) and a limited retail design (for daily payments within the EU).<\/li>\n\n\n\n- Preserving market forces and innovation<\/strong>
The digital euro should not come at the expense of private competition and innovation. We advocate a clear compensation model and a balanced division of roles between public and private parties.<\/li>\n\n\n\n- Knowledge partner and bridge builder<\/strong>
With in-depth knowledge of payments and European regulations, we make substantive contributions to design and legislation, and represent the interests of the Dutch sector in Brussels and beyond.<\/li>\n<\/ul>\n\n\n\n\t\n\t\t\n\t\t
\n\t\t\t\t\t\t\t- \n\t\t\t\t\t\t\t\t\t\t\n\n\n\n\n\t\n\t\t\t\n\t\t\tRead more at the European Central Bank\n\n\t\t\t\t\t\t\tOpent in een nieuw venster<\/span>\n\t\t\t\t\t<\/span>\n\t\n\t\t\t\t\t\t\n\t\t\t