The UK has moved one step closer to launching a CBDC with a consultation paper outlining the proposed digital pound. The Central Bank and Treasury hope to launch a digital pound by 2025. After 6 February’s announcement about crypto firms, the United Kingdom moved another step closer to launching a Central Bank Digital Currency (CBDC). […]
The UK has moved one step closer to launching a CBDC with a consultation paper outlining the proposed digital pound.about crypto firms, the United Kingdom moved another step closer to launching a Central Bank Digital Currency . On that note, there has been a consultation paper outlining the proposed digital pound, dubbed “Britcoin” by the public.was released on 7 February, in conjunction with the Bank of England and the United Kingdom Treasury.
Though the Central Bank and the Treasury hope to launch a digital pound by 2025 at the very least. However, they did say: The primary motivation for launching the digital pound, the paper states, is to ensure that UK’s Central Bank money remains an anchor for confidence and safety in the country’s monetary system. To accomplish this, the e-GBP must be widely adopted in the retail ecosystem through a series of public-private partnerships.
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