UK regulator has no plans to issue a retail wallet for CBDC

The representatives of the Bank of England stated that a CBDC issue requires careful consideration

07.02.2022 - 07:10

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1 min

What’s new? The Block portal has published an interview with Katie Fortune, a senior manager in the Bank of England. According to the regulator’s representative, issuing a special retail wallet for the nation’s digital currency is still “unlikely.” The feasibility of issuing this type of asset also remains in question.

The full version of the interview

What else is known about CBDC from the Bank of England? Katie Fortune said that if a retail wallet is developed, it will be implemented by private companies, not the regulator. In addition, the Bank of England manager stressed that the final decision to launch and implement CBDC has not yet been made.

Until the end of 2022, the regulator will consult with relevant agencies and the community. If the outcome is positive, the regulator will start prototyping and testing different scenarios, both with and without blockchain technology. The UK’s national digital currency may not emerge until 2025, according to Katie Fortune.

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