ECB Defends Digital Euro's Privacy Features

The European Central Bank (ECB) has addressed concerns that its digital euro would compromise user privacy. ECB Executive Board member Piero Cipollone stated, 'The Eurosystem cannot identify users who send or receive payments.'

Cipollone emphasized that banks participating in transactions can identify transaction parties for anti-money laundering purposes, but the ECB itself cannot directly link specific individuals to digital euro payments.

The design of the digital euro aims to provide a level of anonymity comparable to cash transactions. For offline transactions, payment information would be visible only to the sender and recipient.