The Digital Pound: “More Likely Than Not”

On February 7, 2023, the Bank of England (BoE) released two documents concerning a central bank digital currency (CBDC), a prospective government-backed digital form of U.K. currency also known as the “digital pound.” The consultative document (Consultation), jointly released with HM Treasury (HMT), describes the government’s emerging vision of the digital pound, including its functionality and financial stability implications. The accompanying technology working paper (Technology Paper)…
By: Davis Wright Tremaine LLP