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UK says privacy concerns about digital pound would be addressed in law

Thu, 25th Jan 2024 10:27

LONDON, Jan 25 (Reuters) - The Bank of England and Britain's finance ministry said on Thursday that privacy worries relating to a possible digital version of the pound would be addressed by new legislation but no decision to launch a digital pound had yet been taken.

The two institutions said feedback received during a nearly year-long consultation had been largely supportive of the plans although some respondents raised concerns about access to cash, users' privacy and control of their money.

"To address these concerns, the publication confirmed that primary legislation would be introduced before the launch of any digital pound," the BoE and the Treasury said. (Reporting by David Milliken and William James Writing by William Schomberg)

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