The European Central Bank (ECB) leans toward a “transparent” digital euro over one that ensures a higher level of privacy for its users, a presentation devoted to the project has indicated. In the document, the monetary authority explores different privacy options for the eurozone’s digital fiat.
User Anonymity Not Desirable for Digital Euro, ECB Says
A presentation by the European Central Bank has thrown some light on the regulator’s “preliminary views” on the privacy-related features of the digital euro. It comes as the project to issue a central bank digital currency (CBDC) in the eurozone is still in its investigation phase.
Recognizing that maintaining control over their personal data and upholding privacy as a fundamental right is important for Europeans, the monetary authority nevertheless remarks that a shift towards digital payments implies less privacy by default. That’s despite the possibility to preserve some cash-like features in a digital version of the eur
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