EU to adopt mandatory CBDC by 2029

The EU has committed to adopting a mandatory central bank digital currency (CBDC) by 2029, potentially necessitating a compulsory digital ID for residents of all member states in the future.

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The EU plans to bring in a central bank digital currency (CBDC) by 2029 to replace standard financial transactions that occur digitally.

According to the European Central Bank’s website, the EU intends to fully implement the “digital euro” by 2029, assuming the relevant regulation, which just reached the final stage o…