UK Forms Department for Digital Currency
2023.01.24 15:53
UK Forms Department for Digital Currency
By Tiffany Smith
Budrigannews.com – The United Kingdom’s HM Treasury has begun soliciting candidates to lead the central bank’s digital currency team in support of efforts to create a digital pound.
The U.K. Treasury advertised a position on LinkedIn on January 24 for a team lead for its Payments and Fintech Team, which is comprised of approximately twenty individuals and focuses on investigating a “potential digital pound.
“The posting stated that the CBDC head would analyze potential policy issues for lawmakers and determine Treasury’s “strategic direction” for developing a digital currency in line with the government’s agenda.
According to the job posting, “Treasury and the Bank of England are working together through the CBDC Taskforce to explore the case for a digital pound.”
The successful candidate will lead the Treasury team after the consultation is issued, including working with the Bank of England to consider consultation responses. Treasury and the Bank of England have committed to jointly consult on a potential digital pound.
As the digital asset market expands, numerous lawmakers and industry leaders in the United Kingdom have offered their two cents—or, more accurately, pence—in support of the introduction of a CBDC. In a January interview, former senior Bank of England adviser Tony Yates advised against CBDCs, arguing that they were “not worth the costs and risks.”
Additionally, the current governor of the central banks of England has expressed skepticism regarding a digital pound.
From the government having three prime ministers in a matter of months to Queen Elizabeth II’s death in September 2022, the United Kingdom has seen significant leadership shifts. Be that as it may, legislators keep on pondering approaches connected with computerized resource guideline and implementation.
16 people had applied for Treasury’s CBDC position at the time of publication.
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