Once Croatia joins the eurozone, which should happen on January 1, 2023, it will consequently join the debate on the digital euro, a form of common European currency whose creation was announced by the European Central Bank (ECB) in October 2020.
Croatia to take part in the discussion about the digital euro
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Croatia
Author: Kristina Dosen
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Fiscal subject related
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406
Content accuracy validation date:
05.05.2022
Content accuracy validation time:
08:39h
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According to current plans, the digital euro should be issued by the ECB within the next five years and will be circulating in the electronic banknotes. Since there is still no law on this matter, it is expected that the European Commission (EC) will propose the first law that regulates the introduction of the digital euro as a complement to the traditional currency at the beginning of 2023.
Similar to BitCoin, the digital euro will not be the money that one has in the bank account but a digital currency that should be similar to cryptocurrencies. The ECB stated that they see the digital euro as a form of currency that will be used by the eurozone citizens and companies as a daily means of payment. Projects like this are already being tested in Sweden, the Bahaman and Cambodia, whereas the digital version of the Chinese currency e-yuan has been operational on phones since March 2021.
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