Euro Digital clears EU Parliament committee vote, faces political criticism

The European Parliament's Committee on Economic and Monetary Affairs approved the Euro Digital proposal on 23 June with 43 votes in favour, 14 against and one abstention. The digital currency, to be issued by the European Central Bank and distributed through banks and electronic‑money providers, aims to reduce reliance on non‑EU payment platforms and bolster Europe’s financial sovereignty. Its design includes limits on personal holdings, offline payment capabilities via mobile devices or cards, and a privacy‑by‑design framework that seeks to keep personal data out of ECB access. The scheme will not replace cash and will not generate interest on balances.

Opposition was voiced by Spanish far‑right MEP Jorge Buxadé of VOX, who argued that the project lacks a democratic mandate, stating “nobody voted for the digital euro in the polls”. VOX called for the initiative’s withdrawal, accusing the European People's Party and left‑wing groups of colluding with the ECB to push the measure. The vote marks a key step but the proposal still requires approval by the European Council before becoming law.