The European Union Council has approved the European Central Bank's (ECB) digital euro initiative, which includes both online and offline payment options. The offline version is designed to prioritize user privacy by keeping transaction data confined to the parties involved, while the online version allows for real-time oversight. This development is part of the EU's broader efforts to regulate digital assets. ECB President Christine Lagarde noted that the final implementation of the digital euro will depend on decisions made by EU lawmakers. The ECB plans to complete its research phase by the end of 2025, with a potential pilot program launching in 2026. The digital euro's design also incorporates features aimed at countering the financing of terrorism.