On 7 February, HM Treasury issued a consultation document, with responses due by 7 June. It sets out analysis by HM Treasury and the Bank of England on the potential case for a UK central bank digital currency (CBDC) – a “digital pound” and consult on the key features of a potential model. It also says that, although it is too early to commit to build the infrastructure for a digital pound, the Bank of England and the Government are convinced that further preparatory work is justified to appropriately respond to the emergence of new technologies, international developments and fresh opportunities.
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