City of London Financial Centre Mayor: Digital Pound is traceable, but it will endanger people's privacy

2024-10-23 14:49:41

PANews October 23 news, according to DL News, Michael Mainelli, the Lord Mayor of the City of London, said at an event for enthusiasts of Central Bank Digital Money on Wednesday that CBDC threatens user privacy. CBDC can combat financial crimes because payments are traceable and transaction monitoring can be automated - but Mainelli said there is also a dark side to this. He said: This transparency also means the loss of privacy. I’m sorry, you can’t have both at the same time.

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