The European Central Bank (ECB) is considering issuing a digital euro, which would be designed to complement cash rather than replace it, according to Fabio Panetta, a member of the ECB board. Speaking before the Committee on Economic and Monetary Affairs at the European Parliament, Panetta said that the potential digital currency would have a maximum level of privacy, although it may not offer the same level of anonymity as cash. He said that the ECB was studying the possibility of enabling "fully anonymous" payments for low-value transactions. Panetta also said that the project had yet to determine whether digital euros would be issued on a centralized or decentralized system. ADCB officials have previously noted privacy as a "fundamental right" in the development of the currency, but emphasized that it also needed to comply with objectives of preventing money laundering and tax avoidance.

(By Alys Key)