In a recent meeting with the European Parliament’s Committee on Economic and Monetary Affairs, Piero Cipollone, a member of the ECB Executive Board, discussed the forthcoming digital euro, specifically its privacy features, infrastructure procurement, and operational standards.
Cipollone’s presentation emphasized the ECB’s proactive approach to collaborating with EU-based entities for the digital currency’s infrastructure. He added that all these entities are registered within the EU and controlled by an EU national.
Privacy concerns
Privacy considerations were a key focus of Cipollone’s remarks. He assured the Parliament that the digital euro would feature superior privacy protections compared to existing commercial payment solutions and include anonymous offline payment transactions.
The ECB executive detailed the planned privacy features of the digital euro, stating that it would collect only a minimal set of pseudonymized data necessary for operations such as settlement.
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