ECB Defends Digital Euro Privacy, Despite Concerns

European Central Bank Executive Board member Piero Cipollone has addressed concerns over the digital euro's potential for government surveillance, saying it would offer stronger privacy than conventional bank transfers.

Cipollone stated that the Eurosystem would not receive information allowing it to identify individual users during online transactions. The proposed design involves processing payments through banks and other payment service providers, who could identify customers during anti-money laundering checks.

However, digital rights organizations remain unconvinced that the current framework provides enough protecton. They argue that laws and policies can be weakened during implementation or reinterpreted by courts, and technical controls would make it harder for institutions to collect information beyond what the system permits.