Consumer advocacy group Finance Watch has called for stronger privacy protections for the potential use of a digital euro online. The European Central Bank is expected to announce this month whether it will proceed with a European central bank digital currency (CBDC), as central banks around the world seek to keep up with technological advancements in payments. While the European Union's executive European Commission has proposed a law to give legal backing to a digital euro, critics fear it will lack anonymity and replace cash. Finance Watch supports the digital euro but insists on adequate privacy measures to prevent market concentration and dependence on big payment firms and tech platforms.
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