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ECB says digital euro design would prevent it from identifying users
ECB executive board member Piero Cipollone said only banks involved in transactions would be able to identify users, while the Eurosystem would not link individuals to digital euro payments.
The European Central Bank is defending the privacy design of its planned digital euro amid global scrutiny of central bank digital currencies, saying the system would limit how much transaction data it can access, according to Cointelegraph.
In an Aug. 10 interview, ECB Executive Board member Piero Cipollone said the Eurosystem would not be able to identify users making or receiving digital euro payments. He added that only banks participating in transactions would be able to identify users for anti-money laundering purposes, while the Eurosystem would not directly link specific individuals to digital euro payments.
Cipollone also said offline digital euro transactions would restrict payment details to the payer and payee. Cointelegraph notes that lawmakers, privacy advocates, and members of the crypto community have warned that government issued digital currencies could expand financial surveillance.
The story further points to US and European policy context. It says President Donald Trump prohibited federal agencies from developing or promoting a CBDC in January 2025, and that House lawmakers have advanced the Anti-CBDC Surveillance State Act to bar the Federal Reserve from issuing a CBDC. It also says the ECB has positioned the digital euro as a way to strengthen Europe’s payments infrastructure and reduce reliance on non-European payment providers.