Università degli studi di Modena e Reggio Emilia

Abstract
This paper aims at studying the Digital Euro project, its compliance with the EU legislative framework and its potential impact on the European economy. In this regard, firstly, we will examine the overall concept of Central Bank Digital Currency — describing also the diffusion of the instrument de quo around the world — and we will analyse the first three progress reports published by the ECB about the topic. Secondly, we will deepen the issue related to the possible legal basis of this innovative tool and we will investigate the content of the Regulation proposals presented by the European Commission on 28 June 2023. Then, there will be an assessment of the fourth progress report of Frankfurt and, finally, we will underline the main reasons, according to our view, at the basis of the Digital Euro project.