Welcoming the Preparation Phase Commencement
The Digital Euro Association (DEA) monitors and assesses the developments taking place in the digital money space. One example is the welcoming of the decision by the European Central Bank (ECB) to take further steps in preparation for potentially introducing a digital euro. The DEA acts as the citizens’ voice and the ECB’s ally in digital euro related matters.
Contribution to Public Hearing on the Digital Euro
In 2024, the DEA has been appointed as an expert for the public hearing in the Finance Committee of the German Bundestag. The DEA has taken this opportunity to influence the trajectory of digital currency legislation in Germany, directly impacting the future of digital money. DEA members were contributing their expertise or opinions on these significant topics previous to the hearing.
Commentary on the Digital Euro Legal Proposal
The Digital Euro Regulation Working Group has produced an authoritative commentary on the EU's Proposal for the establishment of the digital euro. This comprehensive document delves into the proposal's nuances, highlighting challenges, opportunities, and the broader implications for the European financial landscape introduced by the proposal.
Appointed Member for Public Hearing of the German Bundestag
The DEA has been appointed as an expert for the public hearing in the Finance Committee of the German Bundestag. This pertains to the following topics:
- The subject of the "Digital Euro"
- The motion by the CDU/CSU Parliamentary Group to "Make the vote on the digital euro binding in the Bundestag" (Drs. 20/9133)
- The proposal by the AfD Parliamentary Group to "Preserve cash as the only legal tender and prevent surveillance of citizens through digital central bank money" (Drs. 20/9144)
The DEA has taken this opportunity to influence the trajectory of digital currency legislation and implementation in Germany, directly impacting the future of digital money. In the process, DEA lite and supporting members were granted the opportunity to contribute their expertise or opinions on these significant topics previous to the hearing.
Bringing Together Industry, Legislation and Politics
To facilitate interdisciplinary exchange amongst companies, legislators and politicians, we offer various formats to drive the discussion on digital money-related topics forward. The Digital Euro Conference in Frankfurt, the DEA Working Groups that regularly produce commentary, risk, and potential assessments on relevant topics, attended by professionals and online discussion forums on the newest developments are examples of the types of platforms that we create for exchange.
Roundtable Attendance & Organization
The DEA regularly attends and hosts roundtables with policy- and decision makers such as the Blockchain Roundtable by the German Liberal Party in the National Parliament of the Federal Republic of Germany "Digital Euro: Effects on Monetary Policy, Economy and Society" with the Parliamentary State Secretary in the Federal Ministry of Financial (Dr. Florian Toncar) & Frank Schäffler (Member of the German Parliament). The DEA roundtables are an exclusive discussion forum and are attended by selected DEA partners, key policy and financial decision-makers, and external financial sector experts.
Active Exchange with Government Bodies
The DEA engages with the German Ministry of Finance (Bundesministerium der Finanzen) in discussions about the future of digital money. The key points of discussion included: presenting the DEA’s perspective and expertise, exploring the possibilities of a well-designed digital euro, and presenting insights for the digital euro legislative proposal.
Advisory & Commentary on Pressing Questions
The DEA engages with the Federal Financial Supervisory Authority of Germany (BaFin) in discussions about the legislation regarding digital money in the eurozone and adjacent topics such as digital identities in this context. The DEA Working Groups has produced commentary on the proposal for a regulation of the European Parliament and of the Council on the establishment of the digital euro.
Knowledge Sharing in Public Hearings
The DEA actively participates in public hearings such as the public hearing entitled "A Digital Euro: Challenges and Opportunities" by the European Economic and Social Committee bringing together experts from around Europe to discuss the institutional considerations of introducing a digital euro, as well as its function in an inclusive, digital and sustainable economy.
CBDC Manifesto: Design Recommendations for a retail CBDC
On October 12th, the Digital Euro Association (DEA) and the CBDC Think Tank (CBDC TT) announced the CBDC Manifesto at the CBDC Summit 2022 in Washington D.C. The document was developed by the DEA, the CBDC TT, and world-leading CBDC experts. Given the critical role of CBDC in the payments space and its potential impacts on other parts of the economy, the CBDC Manifesto proposes 5 major CBDC design recommendations, which can be used as a roadmap by central banks to devise an optimal CBDC development plan. The CBDC Manifesto is supported by individuals and organizations across the globe, who are in favor of a citizen-centric solution.
