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UK Parliament’s House of Lords Launches CBDC Inquiry
The deadline for responses on a possible U.K. central bank digital currency is mid-October.
The House of Lords Economic Affairs Committee has launched an inquiry into central bank digital currencies (CBDCs).
- The upper house of the U.K. parliament is inviting responses on issues surrounding how a CBDC might affect the role of the Bank of England, monetary policy and the financial sector.
- In a statement, Lord Michael Forsyth of Drumlean, the committee’s chairman, said the government and Bank of England must “carefully consider the implications of creating a new, state-backed, form of digital cash.”
- Among the many questions it posed, the committee is seeking thoughts on the main benefits and risks or CBDCs and traceability and privacy issues.
- The deadline for responses is Oct. 15.
- In April, the Bank of England and Treasury announced the launch of a task force to explore a potential CBDC.
Read more: Bank of England: Any UK CBDC Will Be ‘Tens of Thousands’ Times More Efficient Than Bitcoin
CONTINÚA MÁS ABAJO
Jamie Crawley
Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
