Per Woofun AI, the European Parliament's Economic and Monetary Affairs Committee has endorsed the legal framework for the digital euro, initiating formal negotiations with member states and the European Commission. This legislative milestone establishes the foundation for deploying both online and offline versions of the central bank digital currency concurrently.

The European Central Bank aims to finalize the launch by 2029, with pilot projects scheduled within the next 12 months to validate infrastructure under real-world conditions. Regulators intend for the digital euro to serve as a 'secure European domestic option' for retail payments, thereby reducing dependency on Visa, Mastercard, and dollar-denominated stablecoins while preserving the role of physical cash.