The U.K. government received over 50,000 responses to its consultation paper on the formation of a digital pound.
The United Kingdom is moving ahead with its roadmap for a central bank digital currency (CBDC) despite privacy concerns.
On Jan. 25, the U.K. government delivered the findings of its digital pound consultation paper laying out the potential risks that a retail CBDC might present.
The report said, “Trust is a prerequisite for a digital pound,” but acknowledged: “Many respondents expressed concerns that a digital pound could infringe on their rights. The Bank [of England] and HM Treasury recognise the strength of feeling on these matters and the need to build public trust in a digital pound.”
