The Bank of England (BoE) has announced the creation of a digital pound advisory group and the recruitment of experts in finance, economics and business to develop a central bank digital currency (CBDC) project.

- The group aims to promote academic discussions on issues related to retail CBDC.

- In February, the UK began consultations on the digital pound, and the first stage was completed in June.

- The Bank of England plans to carry out the pilot and project phase within two years.

- The bank is also opening enrollment for a forum on interaction with CBDC to study the practical aspects of the development and implementation of a digital currency.