Central bank digital currencies: Lords Economic Affairs Committee report
The Bank of England is considering whether to introduce a central bank digital currency (CBDC) in the UK. Unlike cryptocurrencies such as Bitcoin, CBDCs are digital forms of money issued and backed by a central bank. The House of Lords is due to debate a 2022 report by the House of Lords Economic Affairs Committee which concluded that it had “yet to hear a convincing case” for why the UK needs a CBDC.
