The Council of the European Union has just officially announced an important development – formal support for the European Central Bank's design scheme for the digital euro (ECB). What is the key point? The digital euro will be launched in both online and offline versions, walking on two legs.

According to the latest documents, the Council has clearly recognized the overall approach of the ECB on this matter. What does this mean? After the digital euro is launched in the future, you will be able to use it not only online but also for offline transactions. Imagine this - being able to make transfers even when the network is down, which is a significant upgrade for payment flexibility. Currently, the ECB's timeline is: after the legal framework is completed, it could be enabled as early as 2029.

ECB President Lagarde pointed out the key issue at the briefing — the design work on the Central Bank side has been completed, and there are no technical issues. The next hurdles are political and legal. The ball is now in the hands of the European Council, which must continue negotiations and then pass it to the European Parliament. The Parliament needs to assess whether the proposal from the European Commission is truly comprehensive and whether any adjustments are needed before it can be converted into a legally binding document.

In simple terms, technology is not the bottleneck; political and legislative processes are the determining factors. From this progress, Europe is steadily advancing on the path of Central Bank digital currency, and the parallel online-offline design also reflects their consideration of payment diversity. If this plan is ultimately implemented, it will bring a significant change to the digital payment ecosystem in the eurozone.