The European Central Bank (ECB) has promised that the introduction of a digital euro will protect consumer privacy and safeguard against the threat of competing stablecoins.
“If the central bank gets involved in digital payments, privacy is going to be better protected…because we are not like private companies,” said Fabio Panetta, ECB executive board member, talking to the Financial Times.
“We have no commercial interest in storing, managing or monetising the data of users,” he added.
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