The European Central Bank (ECB) released its first Central Bank Digital Currency (CBDC) progress report on June 24, with a strong emphasis on privacy protection. The ECB has pledged to prevent individual transactions from being traced through pseudonymization, hash functions and cryptographic functions, and payment service providers will not use consumer financial data without the consent of the individual. The report also introduces ways to support offline transactions. The newly established "rulemaking group" will submit a draft technical and regulatory framework for CBDC by the end of 2024. Privacy concerns remain a major concern for CBDC, and opposition continues to grow in the crypto community.