Financial TimesFinancial Times

Digital euro will protect consumer privacy, ECB executive pledges

By Martin Arnold

20 Jun 2021 · 3 min read

The introduction of a digital euro would boost consumers’ privacy and protect the eurozone from the “threat” of competing cryptocurrencies that could undermine the bloc’s monetary sovereignty, according to the central banker overseeing its development.

Fabio Panetta, an executive board member at the European Central Bank, told the Financial Times that one of the project’s key aims was to combat the spread of digital coins created by other nations and companies.

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