ECB says digital euro will provide more transaction privacy than standard bank transfers

ECB official Cipollone said offline digital euro payments would occur directly between individuals, with details known only to payer and payee, equivalent to cash. Only banks handling online transactions could identify users, and solely for anti-money laundering purposes. He rejected fears the digital euro would replace cash, citing the ECB's public consultation on new banknote designs. Civil society groups, including Epicenter.works, countered that privacy relies on institutional assurances rather than technical enforcement. His remarks follow Parliament's approval of the regulation, with rollout scheduled for 2029; Lagarde said both forms would coexist.

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