Bank of England Says Central Bank Digital Currency Will ‘Likely’ Be Needed in the Future
British MPs have raised concerns after the Treasury and the Bank of England announced plans for a consultation to launch a state-backed digital pound this decade.
On Tuesday in a statement, the Bank of England and HM Treasury said that “the way we use money is changing” and that a decision on whether to introduce a digital pound is due to be made by 2025.
A consultation paper has set out its assessment of the case for a retail central bank digital currency (CBDC), a so-called “digital pound” which has been overseen by the joint Bank-HM Treasury CBDC Taskforce that was announced in April 2021….