EU Council Endorses Online and Offline Digital Euro
The Council of the European Union has backed the European Central Bank’s plan to launch both online and offline versions of the digital euro simultaneously. Ultimate decisions regarding the digital euro’s legislative framework are now up to EU lawmakers. The offline digital euro is intended to function similarly to cash, keeping transaction data strictly between participants and preventing activity tracking. Transactions would use certified devices with securely stored private keys, such as mobile devices or smart cards. However, fully enforcing in-person, proximity-only use is technically challenging, especially due to potential relay attacks that can bypass proximity requirements. Experts acknowledge that available countermeasures against such misuse are limited, and physical proximity cannot be as reliably ensured in digital currencies as with cash.
