Digital Pound Legislation Will Provide Protections to Privacy and Control, Govt Says

The U.K. government has said it will ensure that future legislation that comes out for a digital pound will provide protections to privacy and control of money in its consultation response on Thursday.

The consultation on a central bank digital currency (CBDC) was conducted by the government’s finance ministry alongside the Bank of England, and concluded in June. It received over 50,000 responses. A chief concern in the consultation was privacy and control of money.

Countries around the world are exploring the benefits of CBDCs , with Nigeria and the Bahamas being among the first countries to issue them. Major economies like the European Union and China are also running investigations or tests.

Please note that our

privacy policy,

terms of use,

cookies,

and

do not sell my personal information

has been updated

.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an

award-winning

media outlet that strives for the highest journalistic standards and abides by a

strict set of editorial policies.

In November 2023,

CoinDesk was acquired

by Bullish group, owner of

Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by

Block.one; both groups have

interests

in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin.

CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.

Camomile Shumba is a CoinDesk regulatory reporter based in the UK. She previously worked as an intern for Business Insider and Bloomberg News. She does not currently hold value in any digital currencies or projects.

Follow @camomileshumba on Twitter