EDPS-EDPB Joint Opinion on the Digital Euro

Summary:

The EDPB-EDPS Joint Opinion 02/2023 provides a joint assessment of the European Commission's proposal for a Regulation on the establishment of the digital euro. The Regulation aims to introduce a digital currency backed by the European Union, which would be a digital representation of the euro.

The joint opinion highlights several key points and concerns, including:

The need for a clear definition of the digital euro and its scope
The importance of ensuring the stability and reliability of the digital euro's underlying technology
The requirement for robust data protection and privacy safeguards to protect user data
The need for transparency and accountability in decision-making processes
* The importance of considering the digital euro's potential impact on the financial inclusion and stability of the EU

The joint opinion concludes by recommending that the digital euro should be designed and implemented in a manner that is consistent with EU data protection and privacy regulations, and that ensures transparency and accountability throughout the process.