Two British nobles raised the question in a commentary in The Daily Telegraph last week: Why does the Bank of England need a central bank digital currency? Lord George Bridges and Lord Michael Forsyth of Drumlean warned against a "sneaky" introduction of CBDCs. The two lords expressed their concerns, including privacy and criminal activity. They called for legislation to guarantee that "Britcoin" cannot be introduced without primary legislation and proper parliamentary scrutiny. The Bank of England's testing and interest in CBDCs is not new, but the two lords believe that there should be stronger regulation.
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Two British nobles warn that central bank digital currencies could lead to privacy and crime issues
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