From Nasdaq.:

The U.K. released digital pound consultation results, with privacy a prominent concern. The U.K. government and Bank of England aim to address these concerns through a platform model and future legislation to protect privacy and personal data.

Experts support the U.K.’s efforts to resolve concerns over digital pound privacy. The proposed platform model would require private, rather than government, firms to have direct and commercial relationships with customers to protect privacy.

The U.K. is considering legislation to safeguard the digital pound’s privacy, with a decision expected in 2025 or 2026. The government’s commitment to enshrining individual rights to privacy through laws suggests a cautious and deliberate approach.

Legal experts stressed the need for more details on the government’s privacy protection plan, as the digital pound’s design is still in its development phase. The government has committed to consulting extensively with the public, emphasizing the importance of gaining public trust.



Read more: UK’s Digital Pound Approach Should Help Manage Privacy Concerns, Experts Say