Her Majesty’s Treasury and the Bank of England have begun preliminary central bank digital currency studies that could result in the creation of a national digital currency.
In a document published by HM Treasury, the exchequer announced the creation of a CBDC task force in collaboration with the U.K.’s central bank.
Jon Cunliffe, deputy governor of the Bank of England, and Katharine Braddick, director general of financial services at HM Treasury will co-chair the task force.
According to the terms of reference document, the task force will synergize the efforts of all relevant statutory bodies in the U.K. regarding CBDC development.
