Tag: digital currency

EU Digital ID Wallet Trials Near End Amid Privacy Concerns

Potential, one of the consortia selected to trial the EU’s planned Digital Identity (EUDI) Wallet, is preparing to conclude its work by September 2025.

The group, which came together in 2023, has played a role in laying the foundation for a system that privacy advocates warn could dramatically expand the surveillance and data collection capabilities of both governments and private companies.

The EU’s original target of launching the wallet in 2024 has already shifted, with the current deadline now pushed back to 2026.

Over the course of its mandate, Potential coordinated with 155 organizations across 19 countries, drawing in major corporations including Idemia, Thales, Amadeus, and Namirial.

Together, they developed six proposed uses for the digital wallet, covering activities such as opening a bank account, registering SIM or eSIM cards, accessing government services, using a mobile driving license, applying a Qualified eSignature, and presenting electronic prescriptions.

Each of these use cases, while framed as a convenience for citizens, raises questions about how personal data will be stored, shared, and protected in this new ecosystem.

A series of large-scale tests have already been conducted. The first remote trials began in May 2024. February 2025 saw cross-border testing in Warsaw, where 15 national wallets and 20 services exchanged data in peer-to-peer mode.

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Top Canadian bank studies possible use of digital dollar for ‘basic’ online payments

Canada’s central bank has been studying ways to introduce a central bank digital currency (CBDC) for use for online retailers, according to a new report, despite the fact that recent research suggests Canadians are wary of any type of digital dollar.

In a new 47-page report titled, “A Retail CBDC Design For Basic Payments Feasibility Study,” which was released on June 13, 2025, the Bank of Canada (BOC) identified a “promising architecture well-suited for basic payments” through the use of a digital dollar.

The report reads that CBDCs “can be fast and cheap for basic payments, with high privacy, although some areas such as integration with retail payments systems, performance of auditing and resilience of the core system state require further investigation.”

While the report authors stopped short of fully recommending a CBDC, they noted it is a decision that could happen “outside the scope of this analysis.”

“Our framing highlights other promising architectures for an online retail CBDC, whose analysis we leave as an area for further exploration,” reads the report.

When it comes to a digital Canadian dollar, the Bank of Canada last year found that Canadians are very wary of a government-backed digital currency, concluding that a “significant number” of citizens would resist the implementation of such a system.

Indeed, a 2023 study found that most Canadians, about 85 percent, do not want a digital dollar, as previously reported by LifeSiteNews.

The study found that a “significant number” of Canadians are suspicious of government overreach and would resist any measures by the government or central bank to create digital forms of official money.

The BOC has said that it would continue to look at other countries’ use and development of CBDCs and will work with other “central banks” to improve so-called cross border payments.

Last year, as reported by LifeSiteNews, the BOC has already said that plans to create a digital “dollar,” also known as a central bank digital currency (CBDC), have been shelved.

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French justice minister calls for abolishing cash

France’s Justice Minister Gerald Darmanin has proposed abolishing cash transactions, arguing that digital payments – including cryptocurrencies – are much easier to trace than physical money and would help authorities combat drug trafficking and other criminal activity.

Restrictions on cash transactions in France and across the EU have already tightened in recent years.

Speaking before a Senate commission on Thursday, Darmanin said that “a large part of daily delinquency and even criminal networks rely on cash,” and declared that “the end of cash would prevent the establishment of drug dealing points.”

Darmanin, who previously oversaw public finances as Minister of Public Action and Accounts, acknowledged that banning physical money wouldn’t eliminate the drug trade, but insisted that “once the money is traceable,” it becomes “more complicated” for both consumers and dealers to escape financial oversight.

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ECB Partners With Big Tech to Launch Controversial Digital Euro Amid Privacy Concerns and US Opposition

The European Central Bank (ECB) – an institution of the European Union (EU) – is working to engineer the digital euro, the EU’s own central bank digital currency (CBDC).

In doing so, ECB is partnering with those skeptical observers might expect in this club: multinationals and multi-billion dollar companies, like Ireland-headquartered Accenture, and Germany’s largest semiconductor maker Infineon Technologies – but also 70 others from the financial, fintech, business, and payment services sectors.

This is happening via a project framed as as an “innovation platform” that was announced just this week, for the purpose of looking into the ways of introducing a centralized form of digital currency – which is merely a highly “controllable” version of fiat money, but also one with strong potential of facilitating “next level” mass surveillance of citizens.

Many things coming out of the EU these days seem like they are crafted not by leaders or even politicians, but by PR teams, for immediate “feelgood” impact, either to obscure the substance of various initiatives and policies – or to obscure the fact there is no substance to them.

Here, ECB has presented its project as an effort carried out by two groups: “Pioneers,” and “Visionaries.”

The first is supposed to deal with developing the technical infrastructure and doing the testing, whereas “Visionaries” are tasked with implementing – and promoting – those solutions.

Here’s an example of what that may involve: “(Exploring) enabling digital euro wallet access via post offices, potentially benefiting those without traditional bank accounts.”

The big picture, the sum total of CBDCs is the role of these currencies in the ongoing “war on cash” as a form of “disfavored” privacy and anonymity.

But naturally, the likes of Piero Cipollone, who sits on ECB’s Executive Board, will talk about the digital euro as “a potential catalyst for financial innovation” and other purely positive and difficult-to-contest goals.

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Inside CBDC’s Anti-Trump Rebrand

The planned rollout of a planet-wide network of “interoperable” digital currencies has shifted gears this year.

Digital Currency is still the endgame, but – in keeping with the spirit of the age – it seems they are changing the method to create the illusion of sides and choices.

We covered this briefly our most recent This Week in the New Normal, but it’s worth a deeper dive.

For years now OffG (and many others in the alternative media sphere) have covered the plans for programmable digital currency as a means for technocratic social control. This goal is years old, but first came to real prominence in the wake of the Covid “pandemic” and the attempted re-shaping of our entire society that entailed.

From 2020 to 2023, the development of “central bank digital currencies” (CBDCs) around the world was a steady upward line, reaching its peak when 130+ of the 197 nations on the planet, representing over 98% of the world’s economic output, were in the process of developing their own CBDC.

But then things went quiet, and some nations – including Japan and Canada – announced they would no longer be moving forward with their CBDC.

Why that would be I couldn’t say, except to speculate that concerns about control and privacy became too widely publicized, and market research indicated too much public scepticism to proceed.

Evidence for this can be found in the FinTech article “Bank of Canada Puts CBDC Development on Ice: Is This Indicative of Global CBDC Demise?”, from September 2024:

“The truth is that people don’t really want CBDCs,” says Stuart Connolly, CIO at investment and operating company Deus X Capital. He explains that concerns about freedom and privacy are still rife when it comes to CBDCs. “They have been roundly rejected by the business and crypto communities, and privacy advocates have campaigned against them because they are best suited to authoritarian economies where transparency can infringe upon freedoms and the creation of money and wealth are heavily controlled. Ultimately, there are few benefits to CBDCs and they simply aren’t compelling.”

That’s just an opinion of one man, of course, but it does jive with my instinctive feeling – CBDCs got too much bad press, and a shift in tactics was needed.

This brings us to 2025. There has been more movement on the CBDC front this year.

On April 9th the EU published the final draft of its “Digital Euro Bill”, and then just a few days ago, the European Central Bank announced a deal with 70 corporate trading partners to test “usage cases” for digital Euro transactions.

In the UK, the Bank of England is testing out offline payment systems for the Digital Pound.

Canada just *ahem* “elected” Mark Carney as their new Prime Minister, and while the Bank of Canada allegedly “scaled down” work on its CBDC last year, Carney has expressed very clear pro-CBDC thoughts in the past. It wouldn’t be shocking to see it restarted in a new “elbows up, look at us standing up to Donald Trump” context.

Indeed, that’s now the heart of the CBDC story.

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WEF Launches Connected Future Initiative to Promote Global Digital Public Infrastructure with Backing from UN, EU, and Bill Gates

The World Economic Forum (WEF) has announced the launch of the Connected Future Initiative, the latest among its efforts to promote what is known as Digital Public Infrastructure (DPI).

The global scheme, aiming to introduce digital IDs, digital payments, and data exchange platforms by 2030, counts the UN, the EU, and Bill Gates among its major supporters.

The WEF presents its new initiative as a way to establish the parameters for public-private cooperation, and “unlock the full potential of globally scaled, interoperable and future-ready digital public infrastructure.”

Those behind the initiative suggest their goal is to essentially strengthen DPI by incorporating technologies like extended reality (XR) and quantum computing, in addition to AI and biometrics, while pushing for global standards and DPI interoperability.

WEF also promises that the new initiative is supposed to secure “ethical and responsible” innovation, and lumps in issues like governance, data privacy concerns (as the second on the list), and equitable access while deploying “next-gen DPI.”

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“Stop The Digital Control Grid…”

Catherine Austin Fitts (CAF), publisher of “The Solari Report,” is back to update us about the “Fast-Approaching Digital Control Grid.”  (CAF) told us last time here on USAW, “There is no bigger ongoing battle for lovers of freedom than the battle taking place over the freedom killing idea of digital ID.”  

But it’s more that just ID, it’s an entire control grid that is being quietly built that is like a frog being put into pot and the water being brought to a boil.  

CAF explains, “You know our goal at Solari is each person has a free and inspired life.  So, we have been working for several years to stop financial transaction control.“

”  If you get the ability to track each person and control their transactions, so if they don’t do what you say, they can turn off your money.  That is game over for the Constitution and for human liberty.  If you look at how the control grid is coming together, there are many different pieces.  There is digital ID, all digital currency or transaction system to a social credit system to the management to certain kinds of data and back-up energy.  There are many different pieces.  We look at the pieces, and we look at them as one-off things such as, oh, I don’t mind having a ‘Real ID’ because I can see why they might want a federal ID, or a passport or whatever.  Each one of these things looks nonthreatening and even convenient, but when they snap together, they are in a control grid, and it’s completely something else.  When Trump was elected, I was shocked to see, almost immediately, the President announce the Stargate AI initiative with the mRNA vaccines, which to me is the internet of bodies.”

CAF put together a long list of Trump Administration actions that are speeding up what looks like a control grid.  It’s called “The Fast-Approaching Digital Control Grid.”  It lists things such as crypto friendly currency actions, private Central Bank Digital Currency, shrinking banking sector, DOGE, undisclosed Epstein files and many more red flag items that could be used to allow crime to continue and build a digital prison for “We the People.”  While the Trump Administration brings change at a record pace, not a single thing has been done to find out about the “$21 Trillion Missing Money” that has been well documented by CAF and Michigan State Professor Dr. Mark Skidmore.  The money has been stolen from America, and the silence about this is deafening.  CAF says,

“We know there has been tremendous fraud in the financials of the US government.  We know that has happened.  If you look at all the things that you or I would do to figure out what had happened, where the money went and how do we get it back, that’s not what they are doing. . . . If you look at how we would do a successful operation to reengineer government and identify the real fraud and stop it, I don’t see any indication that they are doing that.  I do see some selected efforts that are probably sincere. . . . They are shutting things down lots of us would like to see shut down. . . . We know how to stop the death and disabilities that come from the Covid 19 vax injection, but you go the CDC website, and they are still recommending the Covid injections.”

The massive crime going on with government accounting makes it necessary for the control grid.  CAF explains, “What happened in the last Trump Administration is they adopted FASAB 56.  FASAB 56 basically said they could take the books of the US government dark.“

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Beware: The ECB Digital Currency Is Coming

Christine Lagarde, president of the European Central Bank, has announced that the digital euro will be ready for October 2025.

However, she stressed the importance of moving forward with the legislative process that would impose the digital euro, urging the European Commission, the European Council, and member states parliaments to accelerate the laws and directives that are required to make the digital euro viable.

Why the rush? The European Central Bank’s losses have risen to 7.8 billion euros, and the European monetary authority has posted the second consecutive loss, while sovereign bonds in Europe have slumped again in the first two months of 2025. The ECB needs a digital euro to wash away its disastrous policy of the past decade.

The second reason is because confidence in the ECB’s policy is declining, sovereign bonds are not a reserve asset anymore, and inflation expectations rise. The hurry to impose the digital euro also comes at a time when European member states have announced large plans to spend, borrow, and invest in defense. Thus, the digital euro is critical to imposing the use of the euro as a currency, expanding the control of citizens, and disguising fiscal imbalances with a dangerous tool issued by a monetary institution that has lost most of its credibility in the past five years.

Remember that the ECB’s mandate is price stability, but inflation in the euro area has exceeded 22% in the past four years. At the same time, the European sovereign bond index has fallen by 14% since 2022.

There is another important reason to rush the digital euro. Global central banks and investment firms are concerned that European states will confiscate the assets of the Russian central bank, setting a dangerous precedent that could affect the assets of other non-European nations. As foreign funds fearing confiscation may leave the European financial system, the digital euro may be a useful tool to impose the use of the currency even if demand declines.

The digital euro, which Lagarde described in 2022 as “a digital banknote with a little less anonymity than the paper banknote because it is issued and guaranteed by the central bank,” is an unnecessary and dangerous tool.

Central Bank Digital Currencies (CBDCs) have been gaining attention as the technology of the future for monetary systems, but beneath their promise of efficiency and innovation lies a more pessimistic reality: they can serve as tools for surveillance, eroding personal privacy and financial freedom.

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The Stablecoin Trap: The Backdoor To Total Financial Control

The walls are closing in on your financial freedom—but not in the way most Americans believe.

While the debate rages over the future threat of Central Bank Digital Currencies (CBDCs), a far more insidious reality has already taken hold: our existing financial system already functions as a digital control grid, monitoring transactions, restricting choices, and enforcing compliance through programmable money.

For over two years, my wife and I have traveled across 22 states warning about the rapid expansion of financial surveillance. What began as research into cryptocurrency crackdowns revealed something far more alarming: the United States already operates under what amounts to a CBDC.

  • 92% of all US dollars exist only as entries in databases.
  • Your transactions are monitored by government agencies—without warrants.
  • Your access to money can be revoked at any time with a keystroke.

The Federal Reserve processes over $4 trillion daily through its Oracle database system, while commercial banks impose programmable restrictions on what you can buy and how you can spend your own money. The IRS, NSA, and Treasury Department collect and analyze financial data without meaningful oversight, weaponizing money as a tool of control. This isn’t speculation—it’s documented reality.

Now, as President Trump’s Executive Order 14178 ostensibly “bans” CBDCs, his administration is quietly advancing stablecoin legislation that would hand digital currency control to the same banking cartel that owns the Federal Reserve. The STABLE Act and GENIUS Act don’t protect financial privacy—they enshrine financial surveillance into law, requiring strict KYC tracking on every transaction.

This isn’t defeating digital tyranny—it’s rebranding it.

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Sleepwalking Into a Cashless Society

Philip Lane, chief economist of the European Central Bank, recently expressed urgency for the need to develop a digital euro—also known as a central bank digital currency (CBDC)—to compete against stablecoins such as Tether and electronic payment systems developed by U.S. tech firms, such as Google Pay and Apple Pay. Not content with eliminating cash, now the goal of central banks is to eliminate any competing electronic payment system.

We’re sleepwalking into a world with digital currencies without any government coercion whatsoever. As a 51-year-old Generation Xer, I carry lots of cash in my wallet. I teach personal finance at the local university and recently asked a class of about 30 students if any of them had any cash. Not one of them had a single bill or coin on them. They use debit cards, credit cards, Venmo, and Apple Pay. As it turns out, cash usage among the 18–24 age cohort has declined from 28 percent to 13 percent over the last five years. Most like the convenience of electronic payments, even though studies show that people spend 12 percent to 18 percent more when using credit cards than cash. If the government does attempt to implement a digital dollar, there will be little resistance to it.

Currently, there is $2.36 trillion in U.S. currency in circulation. Of course, much of this is held outside our borders, owing to the dollar’s dominance as the global reserve currency. The most common denomination of U.S. currency is the $100 bill. There are more $100 bills in circulation than $1 bills. Many residents of foreign countries, such as Argentina, consider the U.S. dollar to be a store of value and a hedge against inflation and local currency depreciation. If the U.S. government ever decided to phase out paper currency, it would have far-reaching effects around the globe.

Promoters of a digital currency allege that it would cause a drop in criminal and illicit activity. That may be correct, or people may simply resort to another medium of exchange or barter. Philosophically speaking, virtue is not possible without the freedom of choice. If people can’t choose to misbehave, it does not make them virtuous. A society in which nobody has the freedom to misbehave is far more horrifying than a society where people actually misbehave. 

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