United Kingdom: Closed consultation on Central Bank Digital Currencies

On 15 October 2021, after being opened on 17 September 2021, the UK House of Lords Economic Affairs Committee closes its consultation on Central Bank Digital Currencies (CBDCs) for the UK. The following issues were 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 were brought up. Finally, the implications of CBDCs on the economy were also mentioned as something to be consulted on.