EU data protection regulators urge anonymity for smaller transactions in digital euro
Cointelegraph
Published Oct 20, 2023 04:45AM ET
Updated Oct 20, 2023 06:20AM ET
On Oct. 18, the European Data Protection Board and the European Data Protection Supervisor issued a joint statement on regulating a digital euro, as proposed by the European Commission in July 2023. The regulators made several recommendations to enhance the personal data protection standards for the European Union central bank digital currency (CBDC).
The authorities suggest clarifying the proposed verification procedure for the maximum allowed amount of digital euro held by an individual account. The current draft allows the European Central Bank (ECB) and national central banks to establish a single access point to each user’s data. Both authorities recommend conducting an assessment to determine the necessity and proportionality of a singular access point. They emphasize that employing technical measures for the decentralized storage of these identifiers is feasible.
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Written By: Cointelegraph
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