cryptonews: First of all, the Bank of England would like you to stop calling the digital pound 'Britcoin.' 👀
However, the paper argued that it is too early to start building the infrastructure for one but not to begin researching it.
"The digital pound, as described in this paper, would have much in common with cash. Like cash, the digital pound would be provided by the Bank; safe, simple, convenient to use; widely accepted; and easily understood. It would be designed for everyday payments, rather than savings and so, like cash, it would not pay interest.", or at least not have them as outright enemies of a CBDC, as they are in the U.S.
A digital dollar, the BPI said, "could present serious risks to financial stability and may provide few, if any, benefits" and would "undermine the commercial banking system in the United States and severely constrict the availability of credit to the economy." And the digital pound would be issued by the BoE but reach the public only through banks and other financial institutions.In January, Economic Secretary to the Treasury Andrew Griffith pushed that,Still, as the consultation paper makes clear, the conflict between the need for privacy and the requirements of anti-money laundering rules is something that will inevitably be a big battle. It said:
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