United Kingdom: Opened consultation on Central Bank Digital Currencies

On 17 September 2021, the UK House of Lords Economic Affairs Committee opened up a consultation on Central Bank Digital Currencies (CBDCs) for the UK. The following issues will be consulted upon: The benefits and risks of CBDCs, issues for central banks relating to CBDCs, as well as the effects of CBDCs on the financial sector, among others. Furthermore, privacy and traceability concerns are brought up. Finally, the implications of CBDCs on the economy are also mentioned as something to be consulted on. The deadline for contributions is 15 October 2021.