author
Hongji Feng
author
Hongji Feng
Involve
Main meals:
- England bank ruler Andrew Billy said he was not convinced of the need for a retail digital pound.
- Billy confirmed the progress of CBDC wholesale for institutional use.
- Billy also asked whether the narrow organization of banks has increased the regular risks elsewhere.
England bank ruler Andrew Billy raised new doubts about the need for a digital pound, according to a report Posted on June 20.
Speaking at a conference in Kiev, Billy said he has not yet convinced that central banks should issue new forms of money for consumers.
Billy casts doubts about the digital pound of the public
“I start with the assumption that there should be benefit here – it seems that he failed to imagine if we think otherwise,” said Billy. “However, I am still convinced that we need to create new forms of money – such as retail digital currency in the central bank – to achieve this.”
The comments come at a time when the UK Central Bank continues to assess the design of the retail -based digital currency. Besides the Treasury, it has not yet committed to full operation.
While the officials said that any digital pound will not replace cash or include programmed control elements on the spending of users, the project has attracted audit from legislators and privacy advocates.
More than 50,000 responses were provided to a general consultation about the digital pound. Fears also came from commercial banks, which warned that the state -backed currencies can lead to the deposit of the trip during the periods of financial tension.
Pelly reaffirmed that working on a central bank currency in bulk for use between financial institutions is applying. However, he indicated that the version facing the consumer remains under review.
CBDC discussions in global financing
In the same speech, Billy wondered about the broader structure of financial regulation, indicating that excessive organization of banks has turned risks to non -banking financial institutions.
He said: “Whether we may protect the banking system through excessive organization, and thus we have pushed more risks to non -sources that will be safely harboring banks.”
Billy said: “In other words, have we increased the risk of financial stability in general by raising the high strip in banks?” “It is a fair question, but it is difficult to answer.”
Other central banks have already developed digital currency programs. The European Central Bank is developing a preliminary model of the digital euro, and China has extended experiments from E-CNY across many provinces.
Central banks evaluate how to address changes in payment behavior, the increasing role of private symbolic assets, and operational questions about state -backed funds.
Related questions (common questions)
CBDC is used in bulk of transactions between financial institutions, while CBDC for retail will be accessible to the public for daily use. Billy supports the former, but he is still cautious to the latter.
Billy doubts can delay any decision on the start of consumer, which makes the UK behind other judicial states that already experience or launch digital currencies for retail.
Possible applications include peer payments to counterpart, online retail transactions, integration with emerging smart contract systems. However, no final decision has been made on its operating scale.
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2025-06-20 19:05:00
