The Digital Euro and the P Word

As such, the ECB is looking to replicate some cash-like features, like paying offline or not needing a bank account. But in designing these experiences there will be a choice on what are the limit above which identify verifications are needed. And, to advance anti-money laundering goals, the limits are likely to end up lower than those that we de facto have with cash. If the digital euro gradually replaces cash payments, some of the privacy of cash will be sacrificed.