House of Lords Committee Sees ‘No Convincing Case’ for UK CBDC

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The Bank of England, in common with central banks of almost every other major economy across the world, is exploring a potential CBDC as a means of addressing the decline in the use of cash, expediting the implementation of monetary policy and future-proofing fiat currencies from the rise in use of privately issued digital currencies. It is set to begin a consultation alongside the Treasury later this year to explore design features, benefits and implications for users.