UK Economic Affairs Committee unconvinced by prospect of retail CBDC
The House of Lords Economic Affairs Committee — an investigative governing body representing the economic interests of the United Kingdom — has released an official report assessing the pertinence of a government-issued central bank digital currency (CDBC). Titled “Central bank digital currencies: a solution in search of a problem?,” the 52-page publication covers a litany […]
Bank of England sees CBDCs as a revolution for the future of money
In an event streamed live on Wednesday, Bank of England governor Andrew Bailey and deputy governor for financial stability Sir Jon Cunliffe answered questions from lawmakers from the Economic Affairs Committee. When asked about the growth of innovation surrounding digital currencies in the country, Sir Cunliffe gave the following comment: “It’s quite difficult to predict how […]
UK Treasury and central bank will consult on CBDC, potentially launching by 2030
The Bank of England and the United Kingdom finance ministry are planning to launch a consultation on the possible rollout of a central bank digital currency starting in 2022. In a Tuesday statement, the Bank of England said the digital pound consultation with HM Treasury would consider design features, benefits and implications for users and […]