The post UK May Abandon Digital Pound Plans Amid Doubts and Public Pushback appeared on BitcoinEthereumNews.com.

Fintech The Bank of England is reportedly cooling on the idea of launching a digital pound, as internal and public skepticism grows around the project’s value. Instead of pursuing a consumer-facing central bank digital currency (CBDC), the central bank is now leaning toward encouraging private banks to improve digital payment infrastructure. Governor Andrew Bailey signaled the shift during a recent hearing, stating that if commercial solutions prove effective, there may be no need to introduce a new government-backed digital currency. The comments come as global enthusiasm for CBDCs begins to wane, with several projects facing public resistance, political pressure, and privacy concerns. In the UK, the digital pound initiative has attracted tens of thousands of critical responses, fueled privacy debates, and stirred conspiracy theories. Critics have warned that a government-controlled digital currency could trigger destabilizing bank runs during financial stress or give rise to surveillance fears. While no official decision has been made, the UK remains behind many countries in CBDC development. According to the Atlantic Council, just three nations—Jamaica, Nigeria, and the Bahamas—have fully launched CBDCs, while dozens of others are still in early testing or research phases. Across the Atlantic, resistance has gone further. U.S. lawmakers recently passed the Anti-CBDC Surveillance State Act, aimed at blocking any Federal Reserve efforts to develop a digital dollar without direct congressional oversight. The UK’s cautious pivot suggests the digital pound may never leave the drawing board—at least not without a clearer use case and stronger public support. Попитай ChatGPT Author Alexander Stefanov Reporter at Coindoo Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of…

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Filed under: News - @ July 23, 2025 2:29 pm