Update
BIS: Digital Cash Offers 'Cash-Like Privacy' with Risks
The Bank for International Settlements (BIS) stated that digital cash can offer privacy properties similar to cash, but the technology is not yet production-ready due to risks such as bank data breaches. BIS highlighted that compromising one bank may expose its customer data, but would not expose customer identities from other counterparties. The BIS report explores the technical features needed to establish a privacy-preserving central bank digital currency (CBDC).