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Bank of England Releases Paper on Digital Pound CBDC

On Feb. 7, the Bank of England and the HM Treasury department published a consultation paper on the “digital pound,” a UK central bank digital currency.

It added that the CBDC would be subject to rigorous privacy and data protection standards.

“It would be privacy-enhancing by design and would allow users to make choices about their data,” the bank stated.

The Bank of England said that it was too early to decide on launching the digital pound but judged it likely that one would be needed in the future.

(By Martin Young)

Bank of England CBDCs
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