ECB planning to use law to make Apple give way on digital euro
Bank looking to use Digital Markets Act to enable people to hold CBDC on iPhones’ ‘secure element’
The European Central Bank is looking to use the European Union’s Digital Markets Act (DMA) to enable people to hold its central bank digital currency on their iPhones.
Alessandro Giovannini – adviser to the head of the digital euro project, Evelien Witlox – tells Central Banking that Apple’s status as a “gatekeeper” under the DMA allows the European Commission to ensure that the ECB will have access to iPhones’ “secure element”.
The bank had first flagged the issue in April 2024 in a letter to
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com test test test
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com test test test
More on CBDC
Sarb finds ‘no compelling need’ for a retail CBDC
Central bank pivots towards wholesale version while modernising national payments system
CBDC or fast payments can break up ‘walled gardens’ – BIS paper
Study of ‘competing digital monies’ finds public system could prevent fragmentation and rent-seeking
HKMA-BCB trade finance link could be gamechanger, says expert
CBDC blockchain experiment has potential to boost global commerce, UN adviser tells Central Banking
ECB enters new phase for digital euro, with issuance set for 2029
CBDC’s next phase to focus on technical readiness, market engagement and legislative support
Kyrgyzstan to pursue digital strategy with Zhao
Country’s president calls Binance founder “trusted adviser” following controversial pardon by Trump
BoE considering new form of offline payments for UK
Phase two of digital pound work to start next month, as Bailey softens stance on stablecoins
ECB disputes PwC estimate of digital euro implementation costs
Lenders will need to spend around the same as they did implementing PSD2, central bank argues
ECB says digital euro would not disrupt financial stability
Lenders remain healthy under modelled crisis scenario, regardless of CBDC’s holding limits