The European Commission is set to introduce legislation covering a digital euro and full EU-wide coverage of instant payments through SEPA Instant early next year, according to Finextra.
The bill will serve as the legal foundation for the European Central Bank’s ongoing technical work on the creation of a central bank digital currency. On instant payments, the proposed legislative changes are intended to address the fragmented market for cross-border real-time payments and provide a spur to Open Banking initiatives across the Union.
„Today I’m confirming the Commission will present a legislative initiative on instant payments in the second half of 2022,” said in a twitter post Mairead McGuinness – European Commissioner for Financial Services, Financial Stability and Capital Markets Union.
„We need this to accelerate the roll-out of instant payments in the EU,” McGuiness added.
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„To be honest I think that Sinaia, your conference, is much better then Davos.”
Many more interesting quotes in the video below:
