The European Central Bank commits to introducing enhanced privacy measures for the digital euro

ChainCatcher news, the European Central Bank (ECB) has committed to introducing upgraded privacy measures for the digital euro, ensuring robust data protection and privacy standards. The proposed regulation aims to establish a single access point to verify users' holdings of digital euros, specifically the holding limits.

The ECB, in collaboration with the European Data Protection Board (EDPB) and the European Data Protection Supervisor (EDPS), has proposed recommendations to maintain strict personal data protection. These recommendations include processing only necessary personal data, avoiding excessive concentration of such data, and introducing a so-called privacy threshold for online transactions to curb tracking for anti-money laundering purposes.

It is reported that the concept of the digital euro is to facilitate electronic payments for individuals both online and offline, while prioritizing privacy and data protection.