The UK is reconsidering its approach to developing a digital pound, or ‘Britcoin,’ shifting away from a firm approval-or-rejection decision toward a slower pace of progress, according to people familiar with the situation. This reversal comes three years after the UK Treasury and Bank of England stated that a digital pound was ‘likely’ to be needed.

Policy Shift on UK CBDC

UK officials had been expected to make a definitive decision on the CBDC project this summer. Instead, they are now considering a ‘middle route’ that would delay progress on the digital pound initiative. The Bank of England and Treasury have not yet provided a public timeline for a final decision.

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Comment

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TheReflectionUnderTheNeon

· 05-01 20:10

Changing from 'Should we do it' to 'How to do it better' reflects an evolution in UK regulation itself, serving as a reference for other G7 countries.

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BetaParanoiac

· 05-01 10:01

The British guy has learned his lesson this time, not rushing to make a decision, letting the market run for a while first.

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DustyAirdropper

· 05-01 09:51

It's right for Britcoin to slow down; central bank digital currencies are not rush projects, and privacy and bank run risks need to be carefully considered.

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Paper-SculptedOctopusPool

· 05-01 09:38

There's no rush with CBDC. It's good that the enthusiasm from three years ago has cooled down now, to avoid repeating the mistakes of e-CNY.

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