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Digital Pound Legislation Will Provide Protections to Privacy and Control, Govt Says - BSCDesk : Binance Smart Chain and Crypto News

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.

Edited by Sandali Handagama.

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