ChainCatcher news, according to Bloomberg, recently the Governor of the Bank of England Andrew Bailey questioned the necessity of a consumer-facing digital pound at a conference in Kyiv, Ukraine, stating that he is "not yet convinced of the need to create a new form of currency."

This is the clearest official reservation from the UK regarding the "Britcoin" project. The project is currently in the design phase but has encountered public concerns about privacy and security, worries from the banking industry about deposit flight, and warnings from the House of Lords Economic Affairs Committee that "the risks may outweigh the benefits." Bailey emphasized that progress is being made on wholesale central bank digital currency (for interbank settlements), but the retail version still needs to demonstrate its actual benefits.