{"id":18852,"date":"2026-05-03T21:41:53","date_gmt":"2026-05-03T21:41:53","guid":{"rendered":"https:\/\/finteqc.ca\/?post_type=finteqc_paper&#038;p=18852"},"modified":"2026-05-03T21:43:02","modified_gmt":"2026-05-03T21:43:02","slug":"15953","status":"publish","type":"finteqc_paper","link":"https:\/\/finteqc.ca\/index.php\/papers\/15953\/","title":{"rendered":"CBDCs and Privacy: Central Banks, Intermediaries, and the Governance of Digital Money"},"content":{"rendered":"<p>Central bank digital currencies (CBDCs) are often framed as payment and monetary instruments. However, they also carry serious implications for privacy. The state as the issuer and custodian of CBDCs remains a significant focus of privacy concern as it pos-sesses legitimate coercive powers and operate within legal regimes that require data dis-closure, and interoperability within state agencies. Simultaneously, intermediated models amplify risks through private actors that maintain vulnerable user databases with state-like sophistication. The paper argues that with CBDCs, the privacy concerns extend beyond state powers to powerful corporations with state-like powers and recommends a frame-work for CBDC governance that advances a basic privacy first principle in the digital age: that safeguarding financial privacy requires addressing not only state power, but also that of the private intermediaries that would mediate this digital public money. The paper also highlights privacy considerations for CBDC policy design choices that could respond to these different actors and the vulnerabilities they can explore (or create) within a CBDC infrastructure\/ system.<\/p>\n","protected":false},"featured_media":0,"template":"","class_list":["post-18852","finteqc_paper","type-finteqc_paper","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/finteqc.ca\/index.php\/wp-json\/wp\/v2\/finteqc_paper\/18852","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/finteqc.ca\/index.php\/wp-json\/wp\/v2\/finteqc_paper"}],"about":[{"href":"https:\/\/finteqc.ca\/index.php\/wp-json\/wp\/v2\/types\/finteqc_paper"}],"wp:attachment":[{"href":"https:\/\/finteqc.ca\/index.php\/wp-json\/wp\/v2\/media?parent=18852"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}