Officials of major countries in the euro area: digital euro must be private and environmentally friendly

[Officials of major countries in the euro area: digital euros must be private and environmentally friendly] Golden Financial Report, a document written by officials of major countries in the euro area, shows that digital euros should protect people's privacy, be environmentally friendly, and may be subject to the upper limit of ownership. The document said that the digital euro should not replace cash, but should complement the means of payment of the private sector, such as the digital currency issued by commercial banks. The document added: "The digital euro needs to take into account financial privacy. In general, the identity of the payer and the payee cannot be disclosed to the central bank or a third-party intermediary that is not involved in the transaction, unless in accordance with EU law." In addition, these officials seem to agree with the proposal of Fabio Panetta, member of the Executive Committee of the European Central Bank, that people can be restricted from holding CBDC by lowering interest rates or hard caps to prevent funds from flowing out of the traditional banking system. (CoinDesk)