The European Central Bank (ECB) has released an update on its two-year preparation phase for the digital Euro Central Bank Digital Currency (CBDC), set to conclude in October 2025. The ECB has stated that privacy and data protection are its top priorities. However, crypto entrepreneur Daniel Batten has highlighted several concerning features of the digital currency, including easier surveillance, deplatforming, account freezing, and limits on account holdings. The ECB has defended these features as necessary to maintain a resilient financial environment. The bank also mentioned an "offline functionality" feature, which would offer users a cash-like level of privacy. However, critics argue that this would still require the use of the central bank's database, negating the claimed privacy benefits. A decision on the Euro CBDC will only be made after the EU legislative process is completed and the preparation phase concludes. Currently, there are 36 CBDC pilots ongoing worldwide, with only three countries having deployed a CBDC - Nigeria, the Bahamas, and Jamaica.