LONDON : The European Union's data protection watchdog on Wednesday called for stronger privacy safeguards in EU draft legislation to underpin a digital euro.
The European Central Bank is due to say shortly that it will push ahead with further preparations for a digital euro, one of many central banks across the world seeking to keep ahead of technological advances in payments.
Approval of the draft law has been slowed down to give more time to address concerns that the digital euro will lack the anonymity of cash for low-value transactions. The draft law should also"further clarify" the data protection responsibilities of the ECB and of payments services providers . The board said it strongly welcomed that digital euro users will always have the choice to pay in digital euros or in cash.