Foresight News reports, according to Jin Shi, informed sources reveal that Bank of England officials are considering postponing the public digital pound project. The Bank of England has privately urged the banking sector to accelerate payment innovation in order to achieve similar benefits without launching a CBDC. The Bank of England stated that it still hopes to retain the ability to launch a CBDC when necessary, but if the private sector continues to introduce new electronic payment technologies, and its staff believes that the benefits of advancing the digital pound are declining, the central bank is willing to take a step back.
Informed Sources: Bank of England Considers Pausing Digital Pound Project
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