Today HM Treasury and the Bank of England are launching a consultation into a retail central bank digital currency (CBDC) commonly referred to as a digital pound. The central bank also published a Technology working paper. That’s despite significant skepticism expressed during recent parliamentary hearings.
In terms of timelines, following further technical research, a decision will be made around 2025 with a potential launch towards the end of this decade.
The report states, “the Bank of England and HM Treasury judge that it is likely a digital pound will be needed in the future.”
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