News with the tag "digital pound"

A digital pound has been touted as a cheaper, faster, and more modern way of making payments — but not everyone’s in love with the idea. The U.K. recently doubled down on its pledge to become a “global hub” for…

The U.K.'s approach to handling privacy concerns posed by a digital pound should help quench concerns, according to interviews with a wide range of crypto industry legal and technical insiders.

On January 25, the Bank of England (BoE) and HM Treasury published a response to the Consultation Paper regarding a ‘digital pound’ issued in February of 2023. The consultation paper sought the public’s feedback on introducing a UK central bank digital currency (CDBC). Related Reading: Quant Soars 2...

In collaboration with the Bank of England, the UK government has responded to a comprehensive consultation regarding the potential introduction of a central bank digital currency (CBDC), often referred to as a digital pound. This initiative, part of the government’s broader financial strategy, under...

The Bank of England and the U.K. Treasury are cautiously advancing the exploration of a digital pound, focusing on research and legislative groundwork without a firm commitment to launch.

The United Kingdom has recently announced that it will actively pursue working on the design of its central bank digital currency aka Digital Pound, also popular as Britcoin. The UK believes that these measures will be essential to align with the evolving technology of digital currency. UK Advocates...

The UK Parliament and the Bank of England (BOE) continue to “um and ah” over whether a state-backed digital pound also known as “Britcoin” or a Central Bank Digital Currency (CBDC) is needed. On Wednesday, the UK’s Permanent Secretary of HM Treasury James Bowler, said a digital pound consultation wi...

Many respondents to the digital pound consultation said that they had concerns about privacy and control.

The UK Treasury Committee advised proceeding slowly on a digital pound in a Dec. 2 report due to financial stability risks like sparking bank runs. Image by Alexey Novikov, Adobe Stock. The UK Treasury Committee released a report on December 2, advising the Bank of England to proceed cautiously with...

They also want the government to tweak plans to make sure the CBDC’s design won’t preclude the possibility of paying interest on the digital pound.