Digital Pound: On Blockchain or Not? Private or Open? Here’s What We Know

There is not a lot of agreement on what the Digital Pound should be as deadlines for decisions loom.

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UK lacks expertise for central bank digital currency

UK is unlikely to issue a central bank digital currency (CBDC) as the Bank of England lacks the necessary technical skills, according to Jon Cunliffe, the deputy governor. The BoE plans to partner with the private sector to test a digital pound in a simulated environment, with the aim of gaining the required expertise to develop a working prototype. (Read More)

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Digital Pound Could Be a New Form of Payment: UK Finance Minister

Bank of England and Finance Ministry will launch a public consultation to gather opinions on establishing the Digital Pound.

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UK’s digital pound would modernize payments but won't replace cash: Minister

Finance minister Jeremy Hunt says the digital pound, or “Britcoin,” would be issued and backed by the Bank of England, but it won’t negate the use of cash.

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UK exploring a digital pound

A digital pound could be launched in the United Kingdom as part of the country’s effort to introduce better regulation to the crypto industry.

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UK Consortium Announces Project New Era, Ready To Test Out Digital Sterling

The United Kingdom wants all the crypto innovation, minus the crimes.

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UK Economic Affairs Committee unconvinced by prospect of retail CBDC

A new report highlights private-sector innovation and greater financial inclusion with CBDCs, but raises concerns around the descending hegemony of the U.S. Dollar.

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Economic Affairs Committee Unsure UK Needs Retail CBDC

The United Kingdom’s Economic Affairs Committee has shared its views on the proposed plans by the country to launch a Central Bank Digital Currency (CBDC) or digital Pound. (Read More)

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Crypto Flipside News – BTC Soars After ETF Approval Hint, Coinbase Wants New Regulator, Ripple into Digital Pound, Putin Values Crypto, FOX goes NFT

Read Friday's breaking news in the daily digest!

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Quant Soars 20% After Partnership With Bank Of England, BIS For CBDC Project

The native currency of Quant, a  blockchain platform that helps financial institutions incorporate digital currencies into their businesses, on June 15 soared 20% following its partnership announcement with the Bank of England for Project Rosalind. Quant Collaborates With BIS And The Bank Of England Project Rosalind is a central bank digital currency (CBDC) initiative, led [...]

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Bank of England Collaborates with Wallet Manufacturer to Enhance CBDC Transaction Privacy

The Bank of England (BoE) is teaming up with payments platform Nuggets to develop a privacy and identity layer for the proposed digital pound.  According [...]

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UK Finance: Digital Pound Holdings Should Be Limited to £5,000 to Avoid Panic

U.K. Finance, one of the largest finance membership organizations in the U.K., has issued its recommendations to the Bank of England regarding the issuance of a digital pound. The organization stated that individual holdings of the proposed central bank digital currency (CBDC) should be capped at £5,000 ($6350) to avoid panic and deposit flight. U.K.

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