Britain Starts Design Work on a Digital Version of the Pound
- Treasury and Bank of England haven’t yet made a final decision
- Privacy and security of transactions remain a concern
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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.”