The financial crisis has emphasised the need to harmonise rules on the functioning of financial markets, a crucial source of financing in today´s economy. The EU actively tries to improve, in particular, the accountability of financial institutions and transparency of financial markets, at the same time combatting tax evasion and money laundering. These legitimate policies often require, in practice, the collection, use and storage of large amounts of personal information. Therefore, it is necessary to balance public policy objectives with the fundamental rights to privacy and data protection.
EDPB-EDPS Joint Opinion 02/2023 on the Proposal for a Regulation of the European Parliament and of the Council on the establishment of the digital euro
Countries around the world are examining whether they should offer central bank money to the public not only as banknotes and coins, but also in digital form.
The fact that the majority of central banks around the world have already started exploring the possibility of launching a state-owned digital currency comes as a response to the increased adoption of digital, contactless payments, cryptocurrencies and e-commerce, further accelerated by Covid-19, b and also due to the possibilities offered by these digital currencies as a more flexible monetary tool compared to the existing non-digital currency.
Privacy, the protection of personal data and security are amongst the most important requirements, which impact the core design choices to be taken, as well as expected citizens’ trust and acceptance.
EDPS Opinion on the Proposal for a Directive of the European Parliament and of the Council harmonising certain aspects of insolvency law
EDPS-EDPB Joint letter to the European Parliament and the European Council on budget resources for 2023.
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