Coinspeaker
UK House of Commons Calls for Clarity on Retail CBDC Implementation
The UK’s House of Commons, the lower house of Parliament, recently released a report addressing the country’s potential implementation of central bank digital currency (CBDC). The report urged the Bank of England (BoE) and the Treasury to conduct additional research to determine the advantages of introducing a digital pound in the region.
According to the report published on December 2, the BoE proposed the launch of CBDC in the UK in 2020 and has now progressed to the design phase, which is expected to extend from 2025 to 2026.
However, the committee expressed skepticism, asserting that the central bank and the Treasury have yet to present a convincing case for launching a retail CBDC in the United Kingdom.
“We have yet to hear a convincing case for why the UK needs a retail CBDC. While a CBDC may provide some advantages, it could present significant challenges for financial stability and the protect
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