Digital Policy Alert logo

United Kingdom: Opened consultation on a Central Bank Digital Currency (CBDC) in the United Kingdom

Policy overview

Description

Opened consultation on a Central Bank Digital Currency (CBDC) in the United Kingdom

On 7 February 2023, the Bank of England (BoE) and HM Treasury published a paper on a Central Bank Digital Currency (CBDC) in the United Kingdom, the "digital pound", and opened a public consultation until 7 June 2023. In its paper, the BoE and Treas…

Scope

Policy Area
Authorisation, registration and licensing
Policy Instrument
Authorisation of goods or services
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Implementation Level
national
Government Branch
executive
Government Body
central bank

Complete timeline of this policy change

Hide details
2023-02-07
in consultation

On 7 February 2023, the Bank of England (BoE) and HM Treasury published a paper on a Central Bank D…

2023-06-07
processing consultation

On 7 June 2023, the public consultation closed on the paper on a Central Bank Digital Currency (CBD…

2024-01-25
under deliberation

On 25 January 2024, the Bank of England and HM Treasury published their response to the consultatio…

2025-10-23
under deliberation

On 23 October 2025, the Bank of England issued an update on the digital pound project. The project …