Lords Warn Of Security, Stability Risks Of Digital Pound

By Najiyya Budaly (January 13, 2022, 12:20 PM GMT) -- There is "no compelling reason" for Britain to develop a central bank digital currency, the unelected upper chamber of Parliament said on Thursday, warning of risks to cybersecurity and financial stability if the Bank of England pursues the project.

There is "no convincing case" for Britain to have a central bank digital currency, a parliamentary committee has said, as it warned of risks to financial stability. (iStock) The House of Lords Economic Affairs Committee said it had found "no convincing case" for the U.K. to have a central bank digital currency, an online version of existing notes issued and governed by...

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