European finance ministers have called for the digital euro to offer both privacy and transparency, as central bankers begin tests of the project this year. The digital Euro is being spearheaded by the European Central Bank (ECB), with the idea first launched in October 2020 and a more formal “investigation” into the project rolled out in 2021. The Eurogroup, which comprises finance ministers of countries within the European Union using the common currency, has since held regular discussions on the topic. In a statement following their latest meeting, Eurogroup members laid out priorities for the Central Bank Digital Currency (CBDC), should the ECB decide to press ahead with it. The actual issuance of a digital euro would depend on the outcome of EU legislation. The members indicated how such a CBDC could strengthen the Bloc’s autonomy, as well as provide citizens and businesses a host of advantages. Importantly, the European Central Bank would continue to serve as “an anchor for our monetary system,” the statement read.
Full story : EU Finance Ministers Say Digital Euro Must Offer Privacy.