Digital euro: ensuring the highest data protection and privacy standards

Summary:

On October 17, 2023, the European Data Protection Board (EDPB) and the European Data Protection Supervisor (EDPS) released a joint opinion on the proposal for a Regulation on the establishment of the digital euro. The digital euro, a digital currency issued by the European Central Bank, aims to ensure the efficient and secure settlement of transactions within the EU. The joint opinion provides guidance on the data protection implications of the proposal, highlighting the need for robust data protection measures to ensure the security and privacy of digital euro users. The opinion specifically focuses on the processing of personal data, data subject rights, and the obligations of data controllers and processors. The EDPB and EDPS emphasize the importance of effective data protection in building trust in the digital euro and preventing potential abuse.