cryptonews: A digital pound is 'likely to be needed in the future' according to a joint report by the U.K.'s Treasury and the Bank of England. 🇬🇧
A digital pound is "likely to be needed in the future" according to a joint report by the U.K.'s Treasury and the Bank of England., or CBDC, it will definitely light a fire under both the design process and the public discussion about whether one should be developed.
The Treasury and BoE said they will unveil a roadmap towards launching a digital pound on Tuesday, with the approval decision not coming before 2025. A formal public consultation will be launched today.The BoE began investigating a CBDC at the behest of Prime Minister Rishi Sunak in 2021, when he was Chancellor.
"A digital pound would provide a new way to pay, help businesses, maintain trust in money and better protect financial stability," said Andrew Bailey, Governor of the BoE, on Monday. He added:
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