No firm decision on digital pound

The BoE and Treasury response on the consultation paper on the possible introduction of a digital pound say that there has been no final decision on whether the UK will introduce a CBDC. The regulators will continue their work in exploring feasibility and design. In the meantime, the response confirms:

  • that primary legislation would guarantee user privacy and control, if the proposal goes ahead;
  • there would also be a further consultation before this primary legislation; and
  • introduction of the digital pound will not lessen the commitment to keeping access to cash.

Emma Radmore