How we got here, and what comes next

Oct 2020

The Bahamas launches the Sand Dollar, the first national CBDC.

Oct 2021

Nigeria launches the eNaira.

Jun 2022

JAM-DEX becomes legal tender in Jamaica.

Feb 2023

Bank of England and HM Treasury consult on a digital pound.

28 Jun 2023

European Commission proposes the digital euro regulation.

Jan 2025

US executive order halts work on a federal CBDC.

17 Jul 2025

US House passes the Anti-CBDC Surveillance State Act.

Aug 2025

Digital Pound Lab opens. Brazil drops blockchain for Drex phase one.

Oct 2025

ECB closes the preparation phase; a possible 2029 issuance remains conditional on EU legislation.

1 Jan 2026

China’s e-CNY becomes interest-bearing.

23 Jun 2026

European Parliament ECON committee backs the digital euro, 43 to 14.

9 Jul 2026

Parliament plenary approves trilogue talks, 416 to 169.

Late 2026

Target for digital euro trilogue agreement. UK decision on next steps for the digital pound.

2027

Possible digital euro pilot with selected payment providers.

2029

The digital euro could be issued during 2029 if EU lawmakers adopt the regulation in 2026; the ECB has not decided whether to issue it.