No ‘convincing case’ for UK retail CBDC, say legislators

digital-landscape

There is currently no “convincing case” for the Bank of England to issue a retail central bank digital currency (CBDC), a report by a parliamentary committee concludes.

The House of Lords Economic Affairs Committee – which includes former BoE governor Mervyn King – described retail CBDC as a “solution in search of a problem”.

The report argues that while retail CBDC “may provide some advantages”, it could also “present significant challenges for financial stability and the protection of

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