The EU plans to introduce a limit on the cryptocurrency euro — up to $ 3000 per person

Details on the rules for the use of the cryptocurrency euro have appeared online. The new EU draft law on the digital euro provides for prohibitions on interest payments, ownership of large amounts, and the possibility of programming.

As it has become known, the central bank digital currency (CBDC) should be able to operate offline from the first day of issue. This was reported by journalists of CoinDesk, who got hold of the document. The bill is expected to be submitted to the European Commission on June 28.

The document emphasizes that when used offline, the level of confidentiality of the digital euro should be the same as when withdrawing funds from an ATM. Neither the European Central Bank (ECB) nor payment service providers will have access to personal data during transactions.

According to the draft law, stores will be obliged to accept digital euros and not charge additional interest for this service. The only possible reasons for refusal are if the stores are ultra-small businesses or if they have a power outage.

The digital euro cannot be credited with interest, and the ECB will have the right to introduce additional control measures. According to Fabio Panetta, a member of the ECB Executive Board, individuals should be limited to holding a maximum of 3000 euros (about $ 3250) to ensure that they are used primarily for everyday payments.

Earlier, ECB President Christine Lagarde said that the digital euro could be used to control payments made by individuals. She suggested that the regulator would leave only transfers of no more than 400 euros unmonitored.

In May 2022, the ECB called the anonymity of digital euro users an undesirable scenario. And in December, it was suggested that the asset could be issued without the use of blockchain technology.