ECB releases first CBDC progress report
he European Central Bank (ECB) released its first progress report on central bank digital currencies (CBDCs) on June 24, with a strong emphasis on privacy protection. The ECB has committed to preventing personal transactions from being traced through anonymization, hash functions, and encryption, and payment service providers are not allowed to use consumer financial data without their consent. The report also introduces methods to support offline transactions. A newly established "rule-making group" will submit a draft CBDC technology and regulatory framework by the end of 2024. Privacy remains a major concern for CBDCs, and opposition is growing in the cryptocurrency community.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
MoneyGram Launches MoneyGram Ramps, a Crypto API Service for Developers
Bitcoin ETFs See $675M Inflow, Ethereum Follows Strongly
Bitcoin spot ETFs gain $675M inflow on May 2; Ethereum ETFs also surge with $20M net inflow, both showing zero outflows.Ethereum ETFs Follow the TrendWhat It Means for Crypto Markets
Cardano ETF Could Send ADA Price to $3
Cardano ETF is expected soon and could push ADA to $3 and beyond, marking a historic moment for the blockchain project.Could ADA Hit $3 or More?Why Institutions Are Watching Cardano
Circle Expands UAE Operations With Abu Dhabi Regulatory Approval and Hub71 Partnership
Trending news
MoreCrypto prices
More
