This summary text is fully AI-generated and may therefore contain errors or be incomplete.
As the Bank of Spain explores the possibility of introducing a digital euro, it seems that the country’s population is not as enthusiastic about the European Central Bank’s digital currency project. A survey conducted by Ipsos on behalf of the Bank of Spain revealed that only 20% of the general public and small business representatives are aware of the concept of a “digital euro.” Furthermore, in 2023, only 20% of respondents confirmed that they would use the digital euro alongside their regular payment methods, while 65% stated that they would not. These figures represent a decline in support for the central bank digital currency compared to the previous year. Interestingly, the younger age group (18-24) showed the most interest in the digital euro, with 36% stating that they would use it. However, this proportion decreased with age, with only 7% of those over 65 expressing a willingness to adopt the digital currency. The Bank of Spain has emphasized the advantages of digitalization in the economy and society, stating that physical cash does not fully exploit these benefits. Despite Spain’s commitment to the digital economy, as demonstrated by its early implementation of the pan-EU crypto framework, Markets in Crypto Assets (MiCA), the general population’s appetite for a digital euro appears to be limited.