The European Central Bank (ECB) has released its second digital euro research report, which states that the final decision on the launch of the project will be made in the fall of 2023. This is the second report on the advantages and disadvantages of the state digital currency of the European Union. Analysts study fundamental questions on the creation and distribution of CBDC in the eurozone countries. At the same time, the researchers recommend using controlled intermediaries to issue a digital euro, and not the central bank to do this on its own.. This approach will make it possible to distribute the issues of implementing the digital euro among retailers. “Their responsibilities will include providing services for users, including opening accounts and wallets, providing payment instruments, ensuring KYC and AML procedures,” the document says. Private banks in the eurozone will provide the infrastructure for the operation of the state cryptocurrency, and the ECB itself and the central banks of the EU countries will provide settlements. At the same time, intermediary banks will not be able to access user balances; this is planned to ensure the privacy of using the digital euro. The report does not specify how exactly the system will function – based on the blockchain or using traditional principles, or whether it is planned to combine approaches.. After studying the final report in the third quarter of 2023, the ECB Governing Council will have to decide on the launch of the CBDC in commercial operation. In November, ECB President Christine Lagarde announced that the European Commission was preparing a bill defining the digital euro as legal tender.