ActionAttention!
Earn from 0.001 to 0.5 bitcoin!
Earn bitcoin easily. Invite partners and earn from 0.001 to 0.5 bitcoin. Get from 5% to 70% in bitcoins from your investment partners. Sign Up - Register

You can see previous news in the old version of the news blog. Watch

The use of the digital euro will be free and partially anonymous.

Published: 2023-01-24

The processing of digital euro payments will be free, and the electronic version of the currency itself will become publicly available, Fabio Panetta, member of the board of the European Central Bank (ECB), said yesterday. The agency does not want to compete with commercial banks and collect personal data of digital euro owners.


Digital currency is the official means of payment of the central bank along with cash, so it is considered safer than a deposit in a commercial bank. The ECB believes that the main functions of the digital euro, and above all transactions, should be free, as well as cash payments.


Commercial banks sometimes express concern that their services may become redundant with the advent of digital currency, but the ECB does not intend to open accounts for individuals or offer them traditional banking services, such as automatic debiting of regular payments for rent or utilities. For this work, they are sure in the department, subordinate intermediaries are needed who are already in direct contact with consumers - the same commercial banks. The ECB will provide them with the tools to integrate the digital euro into their platforms or release its own application for offline payments, but it will receive only basic functions.


Finally, with regard to ensuring confidentiality, the ECB does not seek to purposefully gain access to the personal data of citizens, but complete anonymity is also unacceptable from the position of combating money laundering. Therefore, legislators are now working on possible options. The timing of the introduction of the digital euro has not yet been specified - the central bank is still studying aspects of its introduction.