Digital euro framework seeks to quell privacy concerns

The digital euro is edging closer to reality, despite concerns over the project’s privacy risks and functionality. The European Commission on Wednesday proposed a legal framework for the electronic currency. Under the draft legislation, digital euros would be accepted for transactions anywhere in the eurozone, but cash would remain safeguarded as a form of payment. It would then be up to the European Central Bank (ECB) to decide if, and when, to issue the digital currency. “In the euro area, the digital euro would offer a digital payment solution that is available to everyone, everywhere, for free,” said Valdis Dombrovskis,…

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