ECB defends digital euro privacy as CBDCs face global scrutiny

Piero Cipollone said the Eurosystem would not identify digital euro users as central bank digital currencies face privacy concerns worldwide.

The European Central Bank (ECB) is defending the privacy design of its planned central bank digital currency (CBDC).

In an Aug. 10 interview published Monday, ECB Executive Board member Piero Cipollone said the digital euro’s design would limit the amount of transaction information available to the central bank.

“The Eurosystem would not be able to identify the users making or receiving payments,” Cipollone said.

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