The U.K. is mulling over launching a digital pound as it remains committed to becoming a cryptocurrency hub, a government representative has indicated. British authorities should also regulate payments with stablecoins, according to the official.
United Kingdom Prepares to Begin Consultation on Digital Pound Currency
The executive power in London is considering the introduction a digital version of the national currency, Economic Secretary to the Treasury Andrew Griffith told lawmakers, the BBC reported. A public consultation on the attributes of a digital pound would be launched in the coming weeks, he said, speaking to the parliamentary Treasury Select Committee. Quoted by Reuters, he also emphasized:
The consultation is going to say this is an if and not a when. We are not fully into the inevitability of doing this.
A digital pound raises many public policy issues and the government has to “get them right,” Griffith stated. He addressed concerns that a state-backed coin could er
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