Deputy Governor of the Bank of England: There is no need to rush to launch a CBDC, hoping that local stablecoins can replace the US dollar stablecoin

According to Bloomberg, Sarah Breeden, Deputy Governor of the Bank of England, stated at the International Monetary Fund (IMF) annual meeting in Bangkok that given the many innovative developments currently underway in the digital payment sector, the UK has no urgent plans to launch a central bank digital currency (CBDC) to the public.

Breeden pointed out that whether to advance a retail CBDC (i.e., "Britcoin") will depend on whether equivalent benefits of tokenization and financial innovation can be achieved through other means.