ECB: Privacy cited as the main characteristic of the digital euro by users

The European Central Bank (ECB) has completed public consultations on the digital euro. More than 8,000 people and organisations participated in the discussion, a record for such public consultations by the ECB, said the regulator.

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According to an initial analysis of the data obtained, privacy is seen as the most important characteristic of the digital euro. It is followed by security and the asset’s accessibility across the EU.

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Final results of the data analysis will be published in the spring. They will form an important input into the decision to launch the digital euro.

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The ECB emphasised that, if issued, the new asset will complement cash rather than replace it.

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Earlier, ECB President Christine Lagarde said that the launch of the digital euro could take no more than five years, and Bitcoin called a speculative asset, subject to regulation.

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For details on why central banks issue their own digital currencies, read ForkLog’s exclusive.

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How and why central banks create digital currencies (CBDCs)

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