# Europe's Digital Euro: What It Is and How It Would Work
European authorities are developing a digital euro, a digital form of currency that would complement existing cash and electronic payment systems across the European Union. Negotiations on the regulatory framework for this initiative are underway, with officials aiming to finalize the governing rules by the end of the current year and establish a launch date of 2029.
The digital euro represents an effort by European policymakers to modernize the region's monetary infrastructure in response to technological advances and shifting payment preferences. This digital currency would be issued and managed by the European Central Bank, operating alongside traditional euros in circulation.
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