According to the British Central Bank, the Central Bank is to define its digital work plans (CBDC) on fears that it may not be beneficial to the bank or financial system.
The Bank of England (Bank of England) is reviewing its plans to obtain a numerical pound that focuses on the consumer amid increasing doubts about the necessity and benefits, Bloomberg I mentioned On Tuesday, quoting people familiar with this issue.
England bank officials encourage banks in particular to accelerate payment innovations instead of creating a consumer CBDC. Central Bank Governor Andrew Billy stated that he would need “a lot of persuasion” if commercial banking innovations succeed.
“I think this is a reasonable place to do this,” the treasury committee said in a parliamentary session on Tuesday. “If this is successful, I wonder why we need to present a new form of money.”
This step is the latest sign of supporting the state -backed cryptocurrencies in the world, and it is a retreat from the Bank of England Previous position The digital pound “is likely to be required.”
“On the basis of our work so far, the Bank of England and the Treasury judge in HM is likely that there is a need for a digital pound in the future,” Billy said in 2023.
UK is slow to adopt cbdcs
Atlantic American Policy Council He appears CBDC in the UK is under development and is behind other relatively judicial states in its digital currency, where Bloomberg stated that no final decision has yet been taken whether it should be followed up.
According to what was reported, the project attracted the attention of conspiracy theory groups, faced attacks from legislators, and paid more than 50,000 responses, most of which were embarrassed, during the request of public comments.
Privacy concerns have arisen from consumers as well as fears of destabilizing banks during crises. There were also concerns about the evaluation of foreign or large technology that could undermine the British pound.
The CBDC Anti -Law passes in the United States
CBDCS has been stopped by pool in the United States with the home Traffic CBDC control law in addition to the two projects of encryption last week.
The draft law is designed to prevent federal reserves from issuing or testing CBDC without explicit approval for Congress.
Related to: UK to ban the public sector of paying ransom payments
Earlier this week, the members of the Republican Congress Margori Taylor Green He said The StableCoin Act Genus Bill creates the government’s “back door” to create CBDC, blocked as codes issued by the private sector.
CBDC expansion system
Only three countries launched CBDC: the Bahamas, Jamaica and Nigeria.
There are 49 countries in the experimental stage, 20 in the development phase, and 36 in the research phase, according to the CBDC of the Atlantic Council of the Ocean.
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