UK House of Commons recommends further CBDC tests on viability, risks

The United Kingdom Parliamentary Committee, House of Commons, has asked the Bank of England and Treasury to carry out further consultative work to determine the benefits of launching a digital pound.

The groundwork and tests related to the launch of a central bank digital currency (CBDC) incurred significant costs for the Bank of England and Treasury, according to a House of Commons Treasury Committee report. It recommended greater transparency around the costs incurred around CBDC initiatives by having a separate line item in its annual report and accounts from 2024 onwards:

“It is important that the Bank of England and Treasury keep control of these costs to avoid spending more than… Read more on Cointelegraph

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