The UK will investigate the CBDC issue
19.04.2021 | auglovoi
In the United Kingdom a working group was created to study the feasibility of launching a digital version of the national currency. It includes representatives from Her Majesty’s Treasury and the Bank of England. The main tasks of the new body includes studying the options for using the digital pound Sterling, and the risks associated with it. In addition, analysts will examine the launch of digital currencies by other countries to keep up with financial progress.
At the same time, authorities note that the decision to launch a new form of money has not yet been decided, and if so, regulators do not intend to contrast the digital pound with the usual means of payment. CBDC should complement the existing economic model and empower users of the monetary system.
Last year, the Bank of England has already made a statement about the possibility of creating a digital asset as a means of accumulation, but separately said that in the near future, any steps in this direction will not be taken. However, Bank of England Governor Andy Haldane suggested that central bank digital currencies could improve the current financial model.