Earth 2.0 Genesis ??????????

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2 years ago
2 years ago

DIGITAL EUROS ARE EXPECTED TO LACK ANONYMITY AND HAVE SAVINGS LIMITS, AND LIMITS ON TRANSACTIONS THAT CAN BE DONE PRIVATELY

**Digital Euro Conference, Brussels, 7 November 2022

Executive Board Member European Central Bank, Fabio Panetta [from 10.30am in the webcast]:***"On privacy... people already release a lot of [personal] information in their digital payments... when [they] pay with [their] credit card...

Also we are discussing a very careful system that would... protect the privacy of users... the ECB will have no access... our proposal will be that the ECB would have no information on the personal details of those who use the digital Euro... we know that there are payments but we don't know who is paying to whom or for which reason .... there could be some exemptions for very small value payments, but this has to be really  an exception because we want to make sure that the digital euro will not be used to do things that are now forbidden such as financial terrorism, money laundering or other criminal activities...

...if we allow users to do transactions up to say 50 euros with a maximum volume of transactions in a given timeframe that is monthly not more than 1000 euros, each transaction not more than 50, then one might discuss that this could not be recorded but this is a discussion which would take place...

...we are also discussing the maximum amount of digital euros that each individual user could hold... we want to introduce a means of payment for transactions not as a store... so what we are discussing is the possibility of introducing limits... for example we have been discussing, among many numbers, 3000 euros... beyond that you cannot go..."German Minister of Finance, Christian Lindner [from 10.44am]:"...a digital euro should complement existing forms of payment, including cash... so having said this we have a focus on a special design of digital euro... it means the digital euro should be technically state of the art, so we need programmable payments..."Webcast:?* https://webcast.ec.europa.eu/towards-a-legislative-framework-enabling-a-digital-euro-for-citizens-and-for-businesses

President of the European Central Bank (ECB), Christine Lagarde:"...full anonymity – such as offered by cash – does not appear a viable option in my opinion. It would contravene other public policy objectives such as ensuring compliance with anti-money laundering rules and combating the financing of terrorism. And it would also make it virtually impossible to limit the use of the digital euro as a form of investment – for example via holding limits or tiered remuneration – for which identities of users need to be known..."Transcript: ? https://www.ecb.europa.eu/press/key/date/2022/html/ecb.sp221107~dcc0cd8ed9.en.html

Programme:? https://www.ecb.europa.eu/pub/conferences/html/20221107_joint_ECB_EUC_conference.en.html

See also: Reclaim the Net article, "The digital euro may have spending limits"

? https://reclaimthenet.org/digital-euro-spending-saving-limits/

@E2Guncensored

European Central Bank

Digital euro: a common European project

The European Central Bank (ECB) is the central bank of the 19 European Union countries which have adopted the euro. Our main task is to maintain price stability in the euro area and so preserve the purchasing power of the single currency.

DIGITAL EUROS ARE EXPECTED TO LACK ANONYMITY AND HAVE SAVINGS LIMITS, AND LIMITS ON TRANSACTIONS THAT CAN BE DONE PRIVATELY
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