The Institute of International Finance (IIF) has published an assessment of the digital euro legislation proposed by the European Commission. This gave Bill mediocrity результаты.De The IIF is a global financial industry advocacy group headquartered in Washington, D.C., with members in 60 countries. He evaluated the digital Euro banknote introduced in June and the related impact assessment. The note is a continuation of comments submitted in June.The IIF investigated seven regions. The proposed legislation partially covered six of these areas. While some of the cost-benefit analysis was basic and high-level, other aspects were dependent on previous studies or incomplete. The mechanism to guarantee financial stability and banking mediation proposed in the bill provides for restrictions. These restrictions have not yet been determined and it is not clear how they will be met, the IIF statement says. Related: IBM offers recommendations for waterPaid paid services With the successful implementation of Europayment's digital payment services, service providers (PSPs) will have a limited capacity to cover the costs of implementing euro digital payment services, such as connecting to infrastructure and creating wallet software, and restrictions on fees will be imposed. Credit institutions will be required to provide basic services for digital euros for free. For this reason, it has also been found that the problems in the field of economic model and responsibility model, as stated in the study, have been solved only partially.The study notes that the privacy controls on the digital euro have not yet been determined and it is not clear what the PSP will have to do to meet the requirements and whether this will be possible for them at the time of the adoption of the digital euro. In addition, measures have not yet been taken to combat money laundering and cybersecurity. The Institute of International Finance welcomes the opportunity to respond to the European Commission's (EC) survey on its potentialThe central bank's digital currency denominated in euros (CBDC). https://t.co/A1MF505OEH @IIF # Eurozone #financial system #Digital European governance and conflicts of interest have not been resolved in legislation, the IIF said in a statement. As a bank regulator and issuer, administrator and installer of digital euro fees, the European Central Bank (ECB) can be found in the conflicting roles of regulator and operator. There is no independent oversight.The IIF also confirmed its position on interoperability. The digital Euro bill is being developed together with the Ministry of Infrastructure. The digital euro is expected to be in the research phase by October. The ECB could then decide to put its technical and business decisions to the test. The real digital euro can only be released after the entry into force of the relevant legislation.Magazine: Crypto City Guide to Prague: Bitcoin in the heart of Europe