According to a deputy governor, the United Kingdom is not ready to issue a central bank digital currency (CBDC) just yet, as the Bank of England (BoE) doesn’t have enough expertise.
There is more than a 50% chance that the central bank of the United Kingdom would issue a CBDC, but the regulator doesn’t have the technical skills to issue a digital currency yet, BoE deputy governor Jon Cunliffe declared at the treasury select committee hearing on Feb. 28.