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Grandpere’s love builds a Viking ship in West Pubnico | SaltWireLONDON - 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 Commission has proposed a draft law that would give legal underpinning to the digital euro, but consumers are concerned it will displace cash and allow authorities to track spending. The European Data Protection Board said on Wednesday that it"strongly recommended" adding to the draft law a privacy threshold for online transactions using the digital euro"under which neither offline nor online low-value transactions are traced for purposes of anti-money laundering and for combating the financing of terrorism."
"This includes the legal bases the ECB and PSP should rely upon, and the types of personal data they should process for the issuance, distribution and use of the digital euro," the EDPB said.
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