On September 29, 2022, the European Central Bank published their most recent progress report on the inquiry phase of their digital euro project. The study elaborates on the fundamental design elements that were authorised by the Governing Council. The following are some of the report’s top recommendations for the operational transfer mechanism for the digital euro:

Online verification from outside sources

Peer-to-peer validation and offline capabilities (when payee or payer are not connected to the internet)

Privacy level at least on par with current digital solutions used by the commercial sector compliance with the existing regulatory framework