June 30, 2020 Bank of Canada examines privacy in the context of CBDCs.

The Canadian central bank, the Bank of Canada, has issued a report examining privacy in the context of central bank digital currencies (CBDCs). Among its other findings, the report concludes that techniques aiming to achieve similar levels of privacy to physical cash are immature and there is a general dichotomy between privacy and regulatory compliance. Beyond this, the central bank stated that emerging cryptographic techniques including zero-knowledge proofs are as yet too risky for implementation.