Bank of England and HM Treasury to Explore a UK CBDC

Reading Time: 2 minutes Bank of England and HM Treasury will coordinate to explore a potential UK Central Bank Digital Currency (CBDC). The coordination will be led by a Taskforce consisting of specified individuals from the Bank of England and HM Treasury. Even if a CBDC is launched, it will not replace cash and bank deposits, rather exist alongside them. The UK government has launched a Central Bank Digital Currency (CBDC) Taskforce to start exploring the potential of a state-backed digital currency. As per the official data, the Taskforce will primarily only include relevant individuals from the Bank of England and HM Treasury. However,
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