Negotiators from the European Parliament and the Council of the EU will hold, on Wednesday 30 September, a third session of political interinstitutional negotiations (trilogue) on the ‘single currency’ package, the regulatory framework preceding the issuance of a future digital euro by the European Central Bank (ECB) (see EUROPE 13908/33).
According to our information, the discussions are expected to focus on five major issues: - fees linked to the digital euro; - its legal tender status; - the limits that will govern holdings of it; - anti-money laundering rules; - transactions carried out offline.
The latter must make it possible to carry out digital euro payments without an Internet connection, with specific rules on confidentiality and anti-money laundering.
Following on from the second trilogue. The second trilogue, which took place on 10 September (see EUROPE 13933/24), had focused mainly on the distribution model for the digital euro by payment service providers (‘PSPs’) and on the remuneration model for the various players, in particular the fees applicable to services linked to the digital euro. The negotiators had also discussed the regulation on the legal tender status of cash, in particular access to cash and its mandatory acceptance.
The issue of fees will therefore ensure direct continuity between the two trilogues, while new political trade-offs will be opened or explored further on the legal tender status of the digital euro, holding limits and the treatment of ‘offline’ transactions in the light of anti-money laundering rules.
Moreover, at the end of their meeting on 10 September, the EU co-legislators had referred several points to technical level in order to continue seeking compromises before their Wednesday session.
At technical level. In addition, at technical level, according to a work schedule seen by Agence Europe, the European Parliament and EU Council teams were in particular due to work on the digital euro’s digital operational resilience and its use with the EU Digital Identity (‘EUDI’) Wallet as well as on interoperability and dispute settlement.
The experts were also due to address the user interface, the application of sanctions and restrictive measures, then payment settlement arrangements, Verification of Payee and the rules allowing a user to change payment service provider. (Original version in French by Bernard Denuit)