EU council endorses offline and online versions of digital euro

The Council of the European Union has endorsed the design for the European Central Bank’s (ECB) digital euro, confirming support for launching both online and offline variants simultaneously. The offline version is designed to mimic cash by limiting transaction data linkage to users, with transaction data never leaving the direct participants for in-person transfers using central-bank-signed tokens on authorized devices. However, the document notes that preventing relay attacks for non-proximity use remains difficult, and the European Data Protection Board stated that physical proximity, a key feature of cash, cannot be reliably enforced digitally. The private keys for the offline digital euro will be stored in secure elements of certified devices like mobile phones and smart cards. The next steps involve the European Council and Parliament reviewing the Commission's proposal to transform it into legislation.

(Source：Cointelegraph)