ECB Moves Forward with Digital Euro Amid Privacy and Banking Concerns

The European Central Bank (ECB) is pressing forward with plans to introduce a digital euro, facing pushback from EU lawmakers over privacy and potential impacts on commercial banks. ECB board member Piero Cipollone highlighted the need for a universal digital payment method, citing its value during major disruptions. He pointed out that existing systems rely heavily on non-EU providers, leaving the bloc vulnerable in crises.