The UK Parliament’s Treasury Committee urged the Bank of England and HM Treasury to ‘proceed with caution’ in its work on a retail central bank digital currency (CBDC). and published a paper on the topic. It requests the potential holding limits for a digital pound to be lower than the £10,000-£20,000 currently proposed. It made other recommendations on privacy, financial inclusion and monetary policy.
“We must also keep a close eye on ensuring that any retail digital pound does not worsen financial exclusion for those reliant on physical cash. The digitisation of money can’t, in any way, leave those people behind,” said the Chair of the Treasury Committee, Harriet Baldwin.
“While we support the Bank of England’s plan to continue working on the design of a potential retail digital pound, I would urge them to proceed with caution and maintain a genuinely open mind as to whether one is actually needed.”
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
