Post
Topic
Board Economics
Topic OP
The BoE could shelve its plans for the digital pound
by
Don Pedro Dinero
on 22/07/2025, 13:01:39 UTC
If confirmed, this would be great news. The original article appears to be from Bloomberg but does not let you read it without being logged in:

https://www.bloomberg.com/news/articles/2025-07-22/bank-of-england-considers-shelving-plans-for-a-digital-pound?srnd=phx-crypto

Although summaries can be found in other articles referencing the topic:

Quote
Just days after U.S. lawmakers advanced a bill opposing the development of a central bank digital currency (CBDC), the Bank of England (BoE) is reportedly stepping back from its digital pound ambitions.

According to people familiar with the matter , BoE has reached out to private-sector players, urging them to explore and accelerate alternative payment solutions.

The goal? Replicate the benefits of a CBDC—without actually building one.

<...>

Over 180 countries were working on some form of CBDC just a few years ago. But in 2025, that momentum is slowing—fast.

The shift largely mirrors the United States’ decision to halt its own CBDC plans.

With the Trump administration now openly backing stablecoins over state-run digital currencies, countries worldwide are rethinking their approach.

Here’s a snapshot of countries that have officially shelved or deprioritized CBDC development:

    Denmark
    Ecuador
    Senegal
    Finland
    United States
    Switzerland
    Japan


What I wonder now is, if this is confirmed, what will happen to the EU? So far what they are doing is accelerating the launch of the Euro CBDC. Are they going to be left alone in the race or will decisions like this make them rethink things?