The Bank of England considers pausing the digital pound plan

ChainCatcher news, according to foreign media reports, due to increasing doubts about the project's benefits, Bank of England officials are considering postponing the public digital pound plan. This reflects a waning enthusiasm worldwide for government-backed digital currencies.

According to informed sources, the Bank of England has privately urged the banking sector to accelerate payment innovation, aiming to achieve similar benefits without launching a central bank digital currency (CBDC). The Bank of England stated that it still hopes to retain the ability to launch a CBDC if necessary, but if the private sector continues to introduce new electronic payment technologies and its staff believes the benefits of advancing the digital pound are declining, the central bank is willing to take a step back.