The Bank of England and the Government are planning to introduce a UK CBDC by 2025. Susannah Copson, legal and policy officer at Big Brother Watch said:
“The case for a UK CBDC still has not been made—especially given the risks to privacy, equality, and even potentially freedom of expression. The Bank of England and Treasury must justify why overhauling our financial landscape with a CBDC is necessary and clearly outline how the public will be protected from the extensive catalog of risks.”
“With the Bank of England ruling out a digital pound which is anonymous, there is a real danger that this form of digital money is on track to be a digital Spycoin. While the previous Government’s pledge to legislate against programmable digital money that restricts spending was a positive step, we need further assurances from the new Government and more clarity on how other privacy safeguards would work in practice,” she adds.
Forbes – U.K. Faces Privacy Challenges Ahead Of 2025 CBDC Pilot