The EU’s data watchdogs want to see changes to the draft legislation for the digital euro. European Union laws usually give the European Central Bank (ECB) considerable autonomy and discretion. But when it comes to the privacy of the central bank digital currency (CBDC), the watchdogs believe the devil is in the details. So they want to see less leeway in the legislation. Plus they would like all low-value transactions made privately.
Apart from demanding more details, wherever private data is used, it must be shown to be necessary and proportional.
These recommendations were part of a joint opinion published this week by the European Data Protection Board (EDPB) and the European Data Protection Supervisor (EDPS).
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