The European Central Bank recently stated that the technical and institutional preparations for the digital euro are essentially complete. Whether to launch it officially is no longer a technical issue but has entered the stage of political and legislative decision-making. Currently, the project is under review by the European Council and the European Parliament, with the final decision-making authority transferred to the EU legislative bodies.
ECB President Christine Lagarde noted in a recent statement that the central bank has completed all preliminary design and system construction work, including operational frameworks and risk control mechanisms. “The European Council and the European Parliament will next decide whether to adopt the European Commission’s proposal and whether it needs to be amended and transformed into formal legislation.” She emphasized that the digital euro is technically “ready to launch at any time.”
According to the proposal, the digital euro will serve as a retail central bank digital currency (CBDC) with legal tender status, issued by the European Central Bank and backed by national credit. Its goal is to continue ensuring the public’s use of central bank money in the digital age while enhancing the efficiency and resilience of Europe’s payment system. The ECB stated that the digital euro will focus on financial stability, monetary sovereignty, user privacy, and financial inclusion.
Unlike private-issued digital assets such as stablecoins, the digital euro is a direct claim on the central bank, with a legal status equivalent to cash. The ECB emphasized that the system will provide “high privacy protection” while meeting anti-money laundering and compliance requirements, responding to concerns about government over-monitoring of fund flows.
The urgency to promote the digital euro partly stems from changes in the global cryptocurrency policy environment. This year, the US has adopted a more open regulatory attitude toward stablecoins and strengthened the US dollar’s position in digital finance through the GENIUS Act. This has led European policymakers to re-examine issues of monetary sovereignty. ECB officials pointed out that without the launch of a public digital currency, the payment system and monetary control could gradually be dominated by private or foreign systems.
Notably, in contrast to Europe, former US President Donald Trump has consistently opposed central bank digital currencies and has banned federal agencies from promoting CBDC projects through executive orders.
The ECB began researching the feasibility of the digital euro as early as 2021 and emphasized that its technical approach remains neutral, with future compatibility with public blockchains such as Ethereum and Solana. Currently, discussions have shifted from conceptual to practical implementation. With legislative review progressing, the digital euro is expected to officially enter the public eye by the end of this decade.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
ETH drops 0.69% in 15 minutes: large on-chain transfer outflows trigger a rebound of spot sell pressure
During the period from 2026-04-19 22:00 to 2026-04-19 22:15（UTC）, the ETH price fell from 2275.98 USDT to 2252.72 USDT. The return over 15 minutes was -0.69%, and the amplitude reached 1.02%. During this round of unusual price movement, short-term market volatility increased, attention on major coins rose, trading activity improved, and volatility was clearly tilted bearish.
The main driver behind this unusual move is the frequent occurrence of on-chain ETH large transfers with both high frequency and notable volume concentrated in a short period. Using a certain well-known hot wallet as a hub, more than 20,000 ETH were transferred out in a short time, and some of it has been traced on-chain and confirmed to have flowed to other exchanges’ receiving addresses. After funds briefly flowed into trading platforms, the number of sell orders in the spot market increased significantly, bringing about a phase of liquidity pressure and further intensifying the downward move in price. In addition, the futures market is linked to spot volatility; during the decline, highly leveraged long positions were liquidated passively, pushing short-term prices to release more downside pressure.
At the same time, the pace of ETF capital inflows has slowed since mid-April. Within the latest range, continuous net inflows have been trending steadily, and coupled with some funds making small redemptions, this weakens the market’s institutional support. Global risk sentiment is also facing synchronized pressure—repeated swings in macro-level expectations for the Federal Reserve’s policy and heightened geopolitical tensions have driven inflows into safe-haven assets. The U.S. Dollar Index strengthened in the short term, global equity markets came under pressure, and this further reinforced ETH’s ongoing downside pressure. In addition, the 24-hour trading volumes for spot and futures were 21.75 billion USD and 42.76 billion USD, respectively; futures open interest was 30.93 billion USD. The liquidation size showed no abnormality, indicating a structural adjustment under multi-dimensional market convergence.
Going forward, it is necessary to stay alert to risks such as continued large outflows on-chain and ETF capital movements shifting from inflows to outflows. If the macro environment deteriorates further, ETH may further intensify volatility. For short-term support, watch the 2250 USDT area; resistance is at 2275 USDT. The ETF trend, the direction of on-chain transfers, and macro news remain the key indicators to monitor for the next stage. Please closely follow subsequent market developments and the flow of large on-chain funds, and promptly capture relevant trading information.
GateNews44m ago
ETH drops 0.56% in 15 minutes: Institutions’ ETF in-and-out flows and tightened on-chain liquidity dominate the market
From 17:45 to 18:00 (UTC) on 2026-04-19, the ETH price recorded a return of -0.56% within 15 minutes, closing in the 2294.03 - 2311.0 USDT range, with an amplitude of 0.73%. Heightened market volatility triggered increased short-term trading activity and boosted attention, while overall liquidity performance tightened.
The main driving force behind this unusual move is institutions’ short-term in-and-out flows of ETF funds and a lull in on-chain stablecoin activity. In early April, after the ETH spot ETF recorded a net inflow of $120.24 million over a short period, it quickly reversed to a net outflow of $64.61 million, indicating that institutional capital became more short-term and there was no signal of sustained accumulation. Meanwhile, on-chain USDT and USDC activity fell in tandem to an annual low; ETH’s short-term buying power was clearly insufficient, putting pressure on liquidity.
In addition, high-win-rate whales have been frequently shorting ETH and BTC since April 14, with related position sizes exceeding $25 million, further intensifying downward pressure in the short term. On the macro front, the Federal Reserve maintains high interest rates, the U.S. dollar remains strong, risk appetite has shifted to cautious, and some funds have flowed into traditional assets such as U.S. stocks. On-chain data shows that exchange reserves for ETH have fallen to the lowest level in nearly a decade, suggesting that long-term holders are actively shifting away from self-custody, further reducing market liquidity supply and amplifying price anomalies. Network conditions are stable; gas fees are operating at low levels, and on-chain transactions have not shown extreme spikes.
The risk of near-term fluctuations remains high. ETF fund flows, large on-chain transfers, stablecoin activity, and changes in whale positions will be key indicators to watch. If institutions step up selling or stablecoin outflows expand further, ETH price volatility may intensify. Please continue to monitor macro developments and on-chain liquidity changes, stay alert to the risk of sharp short-term volatility, and get more real-time updates.
GateNews4h ago
ETH breaks below 2300 USDT
Gate News bot message, Gate market shows that ETH breaks below 2300 USDT, current price 2299.54 USDT.
CryptoRadar5h ago
A judge ruled that the JENNER meme coin issued by socialite Jenners from the Kardashian family is not a security, dismissing the lawsuit.
The U.S. District Court for the Central District of California ruled that the $JENNER meme coin issued by socialite Jenna, of the Kardashian family, does not meet the definition of a security, dismissing investors’ lawsuit. The judge said the plaintiffs failed to prove the features of a common enterprise and can bring other claims in state court.
ChainNewsAbmedia7h ago
ETH breaks through 2350 USDT
Gate News bot message, Gate quotes show that ETH has broken through 2350 USDT, with the current price at 2350 USDT.
CryptoRadar9h ago
KelpDAO Exploiter Borrows $195M ETH from Aave, TVL Drops $6.28B as Whales Withdraw
Gate News message, the KelpDAO exploiter borrowed over 82,600 ETH ($195M) from Aave using RSETH as collateral, resulting in bad debt appearing on Aave. Following this incident, numerous whales withdrew funds from Aave, causing its TVL to decline from $26.396B to $20.114B, a decrease of $6.28B.
GateNews11h ago
