The UK government will ensure that future legislation on the digital pound provides privacy protection and control over funds, it said in a response to a consultation on 25 January.
The consultation on a central bank digital currency (CBDC) was conducted by the UK Treasury with the Bank of England and concluded in June. More than 50,000 comments were received during the consultation, with the top concerns being privacy protection and secure financial management.
Countries around the world are exploring the benefits of CBDC, with Nigeria and the Bahamas having already issued one. Other major countries, including the European Union (EU) and China, are also conducting research and testing.
｜Translation: CoinDesk JAPAN
｜Edited by: Toshihiko Inoue
｜Original text: Digital Pound Legislation Will Provide Protections to Privacy and Control, Govt Says