The European Central Bank (ECB) has released its second progress report on the development of the digital euro central bank digital currency (CBDC), with plans for prototype testing in 2025. The report emphasizes the ECB's commitment to a secure digital payment solution that complements cash and ensures monetary stability. The digital euro aims to enhance the Eurozone's financial system competitiveness and support the EU's digital economy. Significant progress has been made in addressing technical and legal considerations, as well as engaging in public consultations. The ECB plans to test prototypes in 2025, with potential launch in the following years. Stakeholder feedback will shape the project's future phases. Privacy protection, regulatory compliance, and public input are key priorities for the ECB in designing and implementing the digital euro. The article also covers various crypto industry updates and market insights from CryptoSlate. Read more AI-generated news on: https://app.chaingpt.org/news

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