Digital Pound Legislation Will Provide Protections to Privacy and Control, Govt Says

The U.K. government has said it will ensure that future legislation that comes out for a digital pound will provide protections to privacy and control of money in its consultation response on Thursday.

The consultation on a central bank digital currency (CBDC) was conducted by the government’s finance ministry alongside the Bank of England, and concluded in June. It received over 50,000 responses. A chief concern in the consultation was privacy and control of money.

Countries around the world are exploring the benefits of CBDCs , with Nigeria and the Bahamas being among the first countries to issue them. Major economies like the European Union and China are also running investigations or tests.

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2024-01-25 13:58