FIN.

Bank of England responds to Committee report on digital currencies

The Bank of England (the Bank) has thanked the House of Lords Economic Affairs Committee for its report on the Central Bank Digital Currency and in a letter addressed to the House of Lords, the Bank addresses the recommendations made by the Committee.

Although the Bank has not yet made a decision on whether a central bank digital currency should be introduced in the UK, the Bank has confirmed it will, in collaboration with HM Treasury, publish a Consultation Paper later in the year after they have researched and explored the case for such a currency which would entail a major infrastructure project.

FIN. Team