Britain Starts Design Work on a Digital Version of the Pound (1)

The UK will step up work on designing a digital version of the pound as officials sought to quell privacy concerns among the public and address criticism from banks.

The Treasury and Bank of England said further study of a so-called Central Bank Digital Currency, or CBDC, is needed before a final decision can be made on whether to launch what has been dubbed “Britcoin.”

Under their roadmap for a digital pound, the decision on whether to build it is expected to be made in 2025 to 2026 and will need to gain the approval of Parliament. It said a ...