Majority of Europeans Disapprove of Implementing Digital Euro

The European Central Bank (ECB) found that a significant majority of EU citizens do not support the introduction of a central bank digital currency (CBDC). Concerns regarding data privacy and the absence of clear advantages compared to existing payment methods are the primary reasons.

The ECB conducted a survey across EU member states to gauge public sentiment regarding the digital euro. The findings indicated that most participants were against its implementation.

Key issues highlighted by respondents include:

• concerns about potential government control over personal finances;
• worries that the digital euro might limit transaction privacy;
• uncertainties about the practical necessity of such a project.

Citizens also do not perceive any significant advantages in adopting the digital euro compared to the payment methods currently available. Specifically, EU consumers believe that the advancement of online banking and digital wallets diminishes the need for a CBDC in daily transactions.

Despite public doubt, the ECB will continue its efforts on the digital euro initiative. The authority stresses that the digital currency is intended to complement, not replace, cash and will enhance the resilience of the EU’s payment system.

Previously, ECB analysts addressed concerns regarding the privacy of the future CBDC to reassure EU citizens. The launch of the digital euro remains one of the regulator’s top priorities, and preparations for its implementation are ongoing, including current tenders for practical execution.

Сообщение Most Europeans Oppose Introduction of Digital Euro появились сначала на CoinsPaid Media.