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Digital Euro Won’t Really Be Anonymous, Says EU Official

March 31, 2022, 3:27 PM

A future digital euro wouldn’t be fully anonymous to ensure the authorities could act to prevent tax evasion and other crimes, a senior European Union official said Thursday.

Euro-area finance ministers will meet next week to discuss the privacy aspects of a possible ECB-backed digital currency, which would bear many hallmarks of cryptocurrencies such as enabling users to make peer-to-peer transactions from digital wallets without the need for financial intermediaries.

While “privacy is always the default option” for the digital euro, the need to counter tax evasion, and to ensure anti-money laundering and terrorist financing laws are not breached, “make ...