Thu, May 06, 2021 @ 01:28 GMT
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BoE and Treasury to create a Central Bank Digital Currency Taskforce

BoE and UK Treasury announced to jointly create a Central Bank Digital Currency (CBDC) Taskforce today, to “coordinate the exploration of a potential UK CBDC”. The Taskforce will be co-chaired by BoE Deputy Governor for Financial Stability Jon Cunliffe, and Treasury’s Director General of Financial Services, Katharine Braddick.

BoE also noted there was not decision yet on whether to introduce a CBDC. But it will “engage widely with stakeholders on the benefits, risks and practicalities of doing so”.

Additionally, a CBDC Engagement Forum is created to “engage senior stakeholders and gather strategic input on all non-technology aspects of CBDC.” A CBDC Technology Forum  is created to “engage stakeholders and gather input on all technology aspects of CBDC from a diverse cross-section of expertise and perspectives.”

Full release here.

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