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UK Takes Another Step Towards Crypto Regulation With ‘Britcoin’ Proposal

After 6 February’s announcement about crypto firms, the United Kingdom moved another step closer to launching a Central Bank Digital Currency (CBDC). On that note, there has been a consultation paper outlining the proposed digital pound, dubbed “Britcoin” by the public.

The consultation paper was released on 7 February, in conjunction with the Bank of England (BoE) and the United Kingdom Treasury. A working paper delving into technical and economical design considerations was also released.

The paper claims that despite the recent rise of privately issued stablecoins, CBDCs such as the digital pound can co-exist in what they predict will be a mixed payments economy.

(By Suzuki Shillsalot)

UK
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