The new law provides for bans on interest payments, ownership of large sums and the possibility of programming. In addition, the Central Bank Digital Currency (CBDC) must support offline functionality from the first day of issuance, and the level of privacy for the digital euro should be comparable to cash withdrawals from an ATM. Neither the European Central Bank (ECB) nor payment service providers will have access to personal data during transactions.
Stores will be required to accept CBDC as payment and not charge additional fees for this service unless they are very small enterprises or have a valid reason for refusal, such as a power outage.
A series of measures will be proposed to prevent the use of the asset as an alternative to a bank deposit. For individuals, there may be a limitation on storing a maximum of 3,000 euros (approximately $3,250) to ensure their primary use for everyday payments.
It is expected that the bill will be submitted for consideration by the European Commission on June 28th.