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