UK Steps Back from Digital Pound; Stablecoins Gain Ground
Bank of England signals no urgency on a CBDC, preferring sterling stablecoins and tokenized deposits — a meaningful regulatory lean toward private crypto infrastructure.
What we know
@TheBlockCo reports that BoE Deputy Governor Sarah Breeden said there's 'no rush' to launch 'Britcoin,' the UK's proposed digital pound, and suggested stablecoins and tokenized bank deposits could deliver equivalent benefits. The Bank also wants sterling stablecoins to offer an exit ramp (likely related to liquidity redemption guarantees). This is a notable shift that implicitly validates private stablecoin infrastructure over state-issued CBDC, relevant for GBP-denominated crypto rails.
Sources
“Bank of England Deputy Governor says there's no rush to launch 'Britcoin,' suggesting stablecoins and tokenized bank deposits could deliver similar benefits”
View post →By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.