The ECB will not identify users of the digital euro

ECB Executive Board member Piero Cipollone said that only banks involved in transactions will be able to identify customers. The restrictions also apply to anti-money-laundering efforts. The Eurosystem will not be able to directly link specific individuals to digital euro payments. At the same time, in offline CBDC transactions, payment information will be available only to the payer and the recipient.

In doing so, the ECB is easing the concerns of CBDC opponents about an excessive expansion of state control over people’s transactions. The new rules limit the ECB’s role in accessing information, making it similar to traditional payment instruments. The digital euro could be launched in mid-2029, provided the necessary legislative measures are adopted.