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Digital pound should not be considered until risks addressed, MPs warn
The idea of creating a digital pound should not even be considered until the UK government and Bank of England address concerns over data privacy and the increased risk of bank runs, a parliamentary committee has warned. MPs on the Treasury select committee said that while it was true that the rollout of a central bank digital currency could trigger fresh innovation and competition in the payments sector, serious questions remained about whether the positive effects outweighed the risks and costs. The MPs said in a report they were worried that creating an electronic form of currency – held directly with the Bank ... (full story)