‘Digital pound’ enters next stage of design phase

BoE and Treasury outline how CBDC could work and try to allay concerns

Bank of England night Getty 174788162

The UK’s proposed central bank digital currency (CBDC) has entered the next stage of its design phase after the Bank of England (BoE) and the Treasury on January 25 issued a joint response to last year’s public consultation. 

The consultation was published in February 2023 and received more than 50,000 responses. The report published yesterday outlines some of the properties of a potential “digital pound”. The design phase is expected to last until around 2025, after which a decision about

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