General information, not legal or tax advice. Rules change; check the authorities in your country. Status 23 October 2026.
A cbdc is digital money issued by a central bank. The euro area is preparing one: the digital euro.
Status (ECB, 6 October 2026)
- The EU Council agreed its position in December 2025, the European Parliament in July 2026, and trilogue negotiations are under way.
- The ECB will decide whether to issue only after the law is adopted. If that happens by end-2026, it aims to be ready for a first issuance in 2029.
- A 12-month pilot with 36 payment providers is planned from the second half of 2027.
Design choices
The ECB says the digital euro would pay no interest, would have holding limits (it has analysed limits from €500 to €3,000, without a decision), and would be distributed by banks. It would have legal tender status.
Why this is the opposite of bitcoin
- A CBDC has an issuer who sets supply, limits and rules. Bitcoin's supply is capped by code that no one controls.
- A CBDC sits inside the banking system, with identity checks. Bitcoin can be held in your own wallet.
- Privacy for a CBDC is whatever the law grants. Bitcoin's is a matter of how you use it.
The two can coexist. But they answer different questions: a CBDC modernises state money; bitcoin offers money outside the state.